Wayfair Inc. (W) Cut to “Accumulate” at Gordon Haskett
Wayfair Inc. (NYSE:W) was downgraded by equities researchers at Gordon Haskett from a “buy” rating to an “accumulate” rating in a report released on Tuesday. They presently have a $85.00 price target on the stock, up from their prior price target of $70.00. Gordon Haskett’s price target points to a potential upside of 12.06% from the stock’s current price.
A number of other brokerages also recently issued reports on W. Bank of America Corporation upgraded Wayfair from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $75.00 in a research report on Tuesday, May 9th. Maxim Group downgraded Wayfair from a “buy” rating to a “hold” rating and lifted their target price for the stock from $27.60 to $76.17 in a research report on Monday, June 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded Wayfair from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Thursday, April 27th. Buckingham Research raised their price target on Wayfair from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Finally, Goldman Sachs Group, Inc. (The) raised their price target on Wayfair from $37.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.50.
Wayfair (W) opened at 75.85 on Tuesday. The stock has a 50 day moving average of $64.29 and a 200-day moving average of $46.21. Wayfair has a 52-week low of $27.60 and a 52-week high of $77.51. The company’s market capitalization is $6.57 billion.
Wayfair (NYSE:W) last released its earnings results on Tuesday, May 9th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.32. The company had revenue of $960.80 million during the quarter, compared to analyst estimates of $934.84 million. Wayfair had a negative net margin of 5.84% and a negative return on equity of 215.36%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.36) EPS. On average, equities research analysts anticipate that Wayfair will post ($1.56) earnings per share for the current fiscal year.
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In related news, insider Edmond Macri sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $73.87, for a total transaction of $44,322.00. Following the transaction, the insider now owns 500 shares in the company, valued at approximately $36,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John Champlin Mulliken sold 875 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $40.18, for a total value of $35,157.50. Following the transaction, the senior vice president now owns 238,922 shares in the company, valued at approximately $9,599,885.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 480,485 shares of company stock worth $27,993,622. Company insiders own 63.94% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in Wayfair by 1.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,060 shares of the company’s stock worth $493,000 after buying an additional 140 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Wayfair by 9.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,820 shares of the company’s stock worth $114,000 after buying an additional 247 shares in the last quarter. First Personal Financial Services increased its position in Wayfair by 15.1% in the first quarter. First Personal Financial Services now owns 2,475 shares of the company’s stock worth $100,000 after buying an additional 325 shares in the last quarter. Brown Advisory Inc. increased its position in Wayfair by 2.9% in the fourth quarter. Brown Advisory Inc. now owns 11,992 shares of the company’s stock worth $420,000 after buying an additional 337 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position in Wayfair by 2.1% in the first quarter. Nationwide Fund Advisors now owns 33,721 shares of the company’s stock worth $1,365,000 after buying an additional 709 shares in the last quarter.
Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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