Credit Suisse Group Cuts Wayfair Inc. (W) Price Target to $69.00
Wayfair Inc. (NYSE:W) had its target price decreased by research analysts at Credit Suisse Group from $78.00 to $69.00 in a research note issued on Friday. The firm presently has a “neutral” rating on the stock. Credit Suisse Group’s price target points to a potential upside of 2.22% from the company’s current price.
W has been the topic of a number of other reports. Buckingham Research restated a “buy” rating and issued a $95.00 price target (up from $72.00) on shares of Wayfair in a report on Thursday, July 13th. They noted that the move was a valuation call. DA Davidson started coverage on Wayfair in a report on Wednesday, September 13th. They issued a “neutral” rating and a $78.00 price target on the stock. Piper Jaffray Companies set a $87.00 price target on Wayfair and gave the company a “buy” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $88.00 price target on Wayfair and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Wedbush restated a “buy” rating on shares of Wayfair in a report on Wednesday, August 9th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Wayfair presently has a consensus rating of “Buy” and an average target price of $76.01.
Wayfair (NYSE:W) traded down $6.91 during mid-day trading on Friday, reaching $67.50. The company’s stock had a trading volume of 6,132,925 shares, compared to its average volume of 2,634,480. The company has a debt-to-equity ratio of 6.93, a quick ratio of 0.67 and a current ratio of 0.70. Wayfair has a 52-week low of $27.60 and a 52-week high of $84.19.
Wayfair (NYSE:W) last posted its earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.03. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Wayfair had a negative return on equity of 505.51% and a negative net margin of 5.06%. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.54) earnings per share. analysts predict that Wayfair will post -2.27 earnings per share for the current year.
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In other Wayfair news, insider Edmond Macri sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $69.49, for a total transaction of $41,694.00. Following the transaction, the insider now owns 1,000 shares of the company’s stock, valued at $69,490. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven Conine sold 36,060 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $70.57, for a total value of $2,544,754.20. Following the transaction, the insider now directly owns 10,130 shares in the company, valued at approximately $714,874.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 420,752 shares of company stock worth $29,788,852. 56.93% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its position in Wayfair by 96.2% during the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock worth $105,000 after buying an additional 667 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of Wayfair during the second quarter worth approximately $138,000. Delta Asset Management LLC TN boosted its holdings in shares of Wayfair by 375.0% during the third quarter. Delta Asset Management LLC TN now owns 1,900 shares of the company’s stock worth $128,000 after acquiring an additional 1,500 shares during the period. UBS Group AG boosted its holdings in shares of Wayfair by 55.5% during the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock worth $109,000 after acquiring an additional 960 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of Wayfair during the second quarter worth approximately $208,000. 66.24% of the stock is currently owned by hedge funds and other institutional investors.
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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