Wayfair Inc (W) Price Target Lowered to $72.00 at Wedbush
Wayfair Inc (NYSE:W) had its price objective lowered by analysts at Wedbush from $82.00 to $72.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 6.67% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity restated a “buy” rating on shares of Wayfair in a research report on Tuesday, August 8th. BidaskClub cut shares of Wayfair from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. set a $88.00 target price on shares of Wayfair and gave the stock a “buy” rating in a research report on Friday, August 4th. Piper Jaffray Companies set a $87.00 target price on shares of Wayfair and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Buckingham Research restated a “buy” rating and set a $95.00 target price (up previously from $72.00) on shares of Wayfair in a research report on Thursday, July 13th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $76.01.
Shares of Wayfair (W) traded down $6.91 on Friday, reaching $67.50. 6,132,925 shares of the company’s stock were exchanged, compared to its average volume of 2,634,480. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.93. Wayfair has a one year low of $27.60 and a one year high of $84.19.
Wayfair (NYSE:W) last announced its earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.03. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Wayfair had a negative net margin of 5.06% and a negative return on equity of 505.51%. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.54) earnings per share. research analysts anticipate that Wayfair will post -2.27 earnings per share for the current year.
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In other Wayfair news, insider John Champlin Mulliken sold 941 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.37, for a total transaction of $58,690.17. Following the completion of the sale, the insider now directly owns 1,000 shares in the company, valued at $62,370. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the insider now owns 1,000 shares of the company’s stock, valued at $69,490. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 420,752 shares of company stock valued at $29,788,852. 56.93% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in Wayfair by 2.7% during the second quarter. FMR LLC now owns 7,757,688 shares of the company’s stock worth $596,411,000 after buying an additional 207,443 shares during the period. Vanguard Group Inc. grew its stake in Wayfair by 16.3% during the second quarter. Vanguard Group Inc. now owns 3,028,832 shares of the company’s stock worth $232,857,000 after buying an additional 423,631 shares during the period. Baillie Gifford & Co. grew its stake in Wayfair by 1.3% during the third quarter. Baillie Gifford & Co. now owns 1,938,701 shares of the company’s stock worth $130,669,000 after buying an additional 24,027 shares during the period. Allen Investment Management LLC grew its stake in Wayfair by 25.7% during the second quarter. Allen Investment Management LLC now owns 880,000 shares of the company’s stock worth $67,654,000 after buying an additional 180,000 shares during the period. Finally, State Street Corp grew its stake in Wayfair by 1.8% during the first quarter. State Street Corp now owns 695,502 shares of the company’s stock worth $28,158,000 after buying an additional 12,398 shares during the period. Institutional investors own 66.24% of the company’s stock.
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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