Wayfair Inc. (W) Stock Rating Upgraded by Zacks Investment Research
Wayfair Inc. (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Wayfair Inc. engages in the e-commerce business. It offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. The Company operates under the Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane brands. It offers products and services primarily in the United States. Wayfair LLC is headquartered in Boston, Massachusetts. “
Other research analysts also recently issued reports about the company. Vetr downgraded Wayfair from a “strong-buy” rating to a “buy” rating and set a $42.28 target price for the company. in a research report on Friday, August 12th. Cowen and Company restated a “buy” rating and issued a $61.00 price target on shares of Wayfair in a research report on Tuesday, June 21st. Maxim Group set a $49.00 price target on Wayfair and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Canaccord Genuity restated a “buy” rating and issued a $55.00 price target on shares of Wayfair in a research report on Tuesday, October 4th. Finally, Pacific Crest restated an “equal weight” rating on shares of Wayfair in a research report on Sunday, August 14th. Fourteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Wayfair presently has a consensus rating of “Hold” and an average price target of $51.42.
Shares of Wayfair (NYSE:W) opened at 36.47 on Wednesday. The stock has a 50 day moving average of $39.49 and a 200-day moving average of $40.05. Wayfair has a 52-week low of $28.85 and a 52-week high of $50.00. The stock’s market capitalization is $3.10 billion.
Wayfair (NYSE:W) last posted its earnings results on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.02. The firm had revenue of $755.70 million for the quarter, compared to the consensus estimate of $782.43 million. Wayfair had a negative net margin of 4.20% and a negative return on equity of 56.95%. The firm’s revenue was up 60.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Analysts predict that Wayfair will post ($1.67) EPS for the current fiscal year.
In other news, SVP Steve Oblak sold 1,020 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $38.70, for a total transaction of $39,474.00. Following the transaction, the senior vice president now owns 97,878 shares in the company, valued at $3,787,878.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edmond Macri sold 600 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $44.50, for a total value of $26,700.00. Following the transaction, the insider now owns 237,308 shares in the company, valued at approximately $10,560,206. The disclosure for this sale can be found here. Insiders own 63.94% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of 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 in the last quarter. BlackRock Inc. raised its position in shares of 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Wayfair during the second quarter valued at approximately $107,000. Legal & General Group Plc raised its position in shares of 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 in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Wayfair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wayfair Inc. and related companies with MarketBeat.com's FREE daily email newsletter.