Wayfair Inc. (W) Rating Increased 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 note issued to investors 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. “
A number of other equities research analysts have also issued reports on W. Vetr raised shares of Wayfair from a “buy” rating to a “strong-buy” rating and set a $42.28 price target on the stock in a report on Wednesday, September 14th. Canaccord Genuity reissued a “buy” rating and issued a $55.00 price target on shares of Wayfair in a report on Tuesday, October 4th. Goldman Sachs Group Inc. cut shares of Wayfair from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $46.00 to $43.00 in a research report on Wednesday, August 10th. Pacific Crest reaffirmed an “equal weight” rating on shares of Wayfair in a research report on Sunday, August 14th. Finally, Oppenheimer Holdings Inc. reaffirmed a “sector perform” rating on shares of Wayfair in a research report on Sunday, August 14th. Fourteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Wayfair has a consensus rating of “Hold” and an average target price of $51.42.
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Wayfair (NYSE:W) traded up 1.49% during mid-day trading on Wednesday, hitting $36.73. 205,115 shares of the company’s stock were exchanged. Wayfair has a 12 month low of $28.85 and a 12 month high of $50.00. The stock’s 50 day moving average price is $39.58 and its 200-day moving average price is $40.10. The stock’s market cap is $3.12 billion.
Wayfair (NYSE:W) last released its earnings results on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.02. Wayfair had a negative net margin of 4.20% and a negative return on equity of 56.95%. The business had revenue of $755.70 million for the quarter, compared to the consensus estimate of $782.43 million. During the same period in the prior year, the business posted ($0.15) EPS. Wayfair’s revenue for the quarter was up 60.0% on a year-over-year basis. Equities analysts expect that Wayfair will post ($1.67) EPS for the current fiscal year.
In related news, SVP Steve Oblak sold 1,020 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $38.70, for a total transaction of $39,474.00. Following the completion of the sale, the senior vice president now directly owns 97,878 shares in the company, valued at $3,787,878.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edmond Macri sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $44.50, for a total transaction of $26,700.00. Following the sale, the insider now owns 237,308 shares of the company’s stock, valued at $10,560,206. The disclosure for this sale can be found here. 63.94% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in shares of Wayfair by 112.9% in the third quarter. BNP Paribas Arbitrage SA now owns 2,629 shares of the company’s stock valued at $104,000 after buying an additional 1,394 shares during the period. Royal Bank of Canada increased its position in shares of Wayfair by 142,724.0% in the second quarter. Royal Bank of Canada now owns 142,824 shares of the company’s stock valued at $5,570,000 after buying an additional 142,724 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Wayfair by 22.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 100,671 shares of the company’s stock valued at $3,927,000 after buying an additional 18,672 shares in the last quarter. Legal & General Group Plc increased its position in shares of Wayfair by 28.8% in the second quarter. Legal & General Group Plc now owns 3,810 shares of the company’s stock valued at $149,000 after buying an additional 853 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Wayfair by 57.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,972 shares of the company’s stock valued at $896,000 after buying an additional 8,424 shares in the last quarter. Institutional investors 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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