Wayfair Inc. (W) Trading Up 6.9%
Shares of Wayfair Inc. (NYSE:W) were up 6.9% on Thursday . The stock traded as high as $43.58 and last traded at $43.03, with a volume of 956,369 shares traded. The stock had previously closed at $40.25.
Several analysts have recently weighed in on W shares. Zacks Investment Research upgraded Wayfair from a “sell” rating to a “hold” rating in a research report on Saturday, July 9th. Vetr downgraded Wayfair from a “buy” rating to a “hold” rating and set a $43.83 price objective for the company. in a report on Monday, April 4th. Citigroup Inc. downgraded Wayfair from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $51.00 to $45.00 in a report on Tuesday, May 10th. Sterne Agee CRT initiated coverage on Wayfair in a report on Wednesday, April 6th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. initiated coverage on Wayfair in a report on Monday, April 25th. They issued a “neutral” rating and a $45.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Wayfair has an average rating of “Buy” and a consensus target price of $52.67.
The company’s 50 day moving average price is $39.83 and its 200 day moving average price is $40.48. The stock’s market cap is $3.69 billion.
Wayfair (NYSE:W) last announced its earnings results on Monday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.03. The company earned $747.30 million during the quarter, compared to the consensus estimate of $693.95 million. During the same period last year, the business earned ($0.23) EPS. Wayfair’s revenue for the quarter was up 76.1% compared to the same quarter last year. Equities research analysts expect that Wayfair Inc. will post ($1.12) EPS for the current year.
In other Wayfair news, CFO Michael D. Fleisher sold 7,500 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $39.74, for a total value of $298,050.00. Following the sale, the chief financial officer now owns 29,693 shares of the company’s stock, valued at approximately $1,179,999.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Niraj Shah sold 12,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $40.95, for a total value of $491,400.00. Following the completion of the sale, the chief executive officer now directly owns 12,000 shares in the company, valued at approximately $491,400. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in Wayfair by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 37,171 shares of the company’s stock worth $1,770,000 after buying an additional 632 shares in the last quarter. First Trust Advisors LP bought a new stake in Wayfair during the fourth quarter worth about $2,895,000. Russell Frank Co raised its stake in shares of Wayfair by 72.5% in the fourth quarter. Russell Frank Co now owns 95,996 shares of the company’s stock valued at $4,697,000 after buying an additional 40,358 shares during the period. Marshall Wace LLP acquired a new stake in shares of Wayfair during the fourth quarter valued at $5,425,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Wayfair by 14.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 480,000 shares of the company’s stock valued at $22,858,000 after buying an additional 60,000 shares during the period.
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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