Wayfair Inc. (W) Raised to “Hold” at Zacks Investment Research
Wayfair Inc. (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Wayfair Inc. engages in the e-commerce business. It offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. The Company operates under the Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane brands. It offers products and services primarily in the United States. Wayfair LLC is headquartered in Boston, Massachusetts. “
Other analysts have also recently issued research reports about the stock. Maxim Group initiated coverage on shares of Wayfair in a research note on Thursday, May 26th. They issued a “buy” rating and a $50.00 target price on the stock. Vetr cut shares of Wayfair from a “strong-buy” rating to a “buy” rating and set a $48.00 price objective on the stock. in a research note on Wednesday, June 8th. William Blair started coverage on shares of Wayfair in a research note on Friday, June 10th. They set a “market perform” rating on the stock. Longbow Research started coverage on shares of Wayfair in a research note on Thursday, June 16th. They set a “neutral” rating on the stock. Finally, Cowen and Company reaffirmed a “buy” rating and set a $61.00 price objective on shares of Wayfair in a research note on Tuesday, June 21st. Fourteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Wayfair presently has a consensus rating of “Hold” and an average target price of $51.49.
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Wayfair (NYSE:W) traded up 1.93% during midday trading on Wednesday, hitting $42.87. The stock had a trading volume of 108,767 shares. The stock’s 50 day moving average price is $40.27 and its 200-day moving average price is $40.38. Wayfair has a 52 week low of $28.85 and a 52 week high of $50.00. The company’s market cap is $3.64 billion.
Wayfair (NYSE:W) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.02. The company had revenue of $755.70 million for the quarter, compared to analyst estimates of $782.43 million. Wayfair had a negative net margin of 4.20% and a negative return on equity of 56.95%. The firm’s quarterly revenue was up 60.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) EPS. Equities research analysts predict that Wayfair will post ($1.67) earnings per share for the current year.
In related news, CEO Niraj Shah sold 12,000 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $40.72, for a total transaction of $488,640.00. Following the sale, the chief executive officer now directly owns 12,000 shares in the company, valued at $488,640. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael D. Fleisher sold 2,038 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $39.60, for a total transaction of $80,704.80. Following the sale, the chief financial officer now owns 28,695 shares in the company, valued at $1,136,322. The disclosure for this sale can be found here. 63.94% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY increased its position in Wayfair by 1.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,548 shares of the company’s stock worth $629,000 after buying an additional 269 shares during the period. Bank of New York Mellon Corp increased its position in Wayfair by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 124,005 shares of the company’s stock worth $4,836,000 after buying an additional 422 shares during the period. Teachers Advisors Inc. increased its position in Wayfair by 2.3% in the first quarter. Teachers Advisors Inc. now owns 30,241 shares of the company’s stock worth $1,307,000 after buying an additional 691 shares during the period. Legal & General Group Plc increased its position in Wayfair by 28.8% in the second quarter. Legal & General Group Plc now owns 3,810 shares of the company’s stock worth $149,000 after buying an additional 853 shares during the period. Finally, BlackRock Inc. increased its position in Wayfair by 70.0% in the second quarter. BlackRock Inc. now owns 2,689 shares of the company’s stock worth $105,000 after buying an additional 1,107 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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