Wayfair Inc. (W) Stock Rating Reaffirmed by Canaccord Genuity
A number of other equities research analysts also recently weighed in on W. William Blair assumed coverage on Wayfair in a research report on Friday, June 10th. They set a market perform rating on the stock. Wedbush lowered their price target on Wayfair from $60.00 to $55.00 and set an outperform rating on the stock in a research report on Wednesday, August 10th. Longbow Research assumed coverage on Wayfair in a research report on Thursday, June 16th. They set a neutral rating on the stock. Oppenheimer Holdings Inc. restated a sector perform rating on shares of Wayfair in a research report on Sunday, August 14th. Finally, Zacks Investment Research upgraded Wayfair from a sell rating to a hold rating in a research report on Friday, September 9th. Fourteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $51.42.
Shares of Wayfair (NYSE:W) opened at 37.99 on Tuesday. The company’s 50 day moving average price is $39.65 and its 200 day moving average price is $40.14. The company’s market cap is $3.23 billion. Wayfair has a 12 month low of $28.85 and a 12 month high of $50.00.
Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.43) earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $755.70 million for the quarter, compared to analysts’ expectations of $782.43 million. During the same quarter in the previous year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 60.0% on a year-over-year basis. On average, equities analysts expect that Wayfair will post ($1.67) EPS for the current fiscal year.
In other Wayfair news, CEO Niraj Shah sold 12,000 shares of Wayfair stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $40.38, for a total transaction of $484,560.00. Following the sale, the chief executive officer now directly owns 12,000 shares of the company’s stock, valued at approximately $484,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Andrew Kumin sold 500,000 shares of Wayfair stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $38.23, for a total transaction of $19,115,000.00. The disclosure for this sale can be found here. Company insiders own 63.94% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its position in 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 last quarter. BlackRock Inc. raised its position in Wayfair by 70.0% in the second quarter. BlackRock Inc. now owns 2,689 shares of the company’s stock valued at $105,000 after buying an additional 1,107 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Wayfair during the second quarter valued at about $107,000. Legal & General Group Plc raised its position in Wayfair by 46.8% in the first quarter. Legal & General Group Plc now owns 2,957 shares of the company’s stock valued at $124,000 after buying an additional 943 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Wayfair by 42.4% in the second quarter. Teacher Retirement System of Texas now owns 3,905 shares of the company’s stock valued at $152,000 after buying an additional 1,163 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.
Wayfair Company Profile
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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