Wayfair’s (W) Buy Rating Reiterated at Buckingham Research
Wayfair Inc. (NYSE:W)‘s stock had its “buy” rating restated by stock analysts at Buckingham Research in a research report issued on Thursday. They presently have a $95.00 price target on the stock. Buckingham Research’s price target would suggest a potential upside of 30.46% from the stock’s previous close.
A number of other brokerages have also issued reports on W. BidaskClub lowered 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. Robert W. Baird restated a “neutral” rating on shares of Wayfair in a research report on Monday, July 3rd. Finally, Maxim Group lowered shares of Wayfair from a “buy” rating to a “hold” rating and raised their target price for the stock from $27.60 to $76.17 in a research report on Monday, June 19th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Wayfair has a consensus rating of “Buy” and an average price target of $69.15.
Shares of Wayfair (NYSE W) opened at 72.82 on Thursday. The stock’s market cap is $6.31 billion. The firm’s 50-day moving average is $75.55 and its 200 day moving average is $54.28. Wayfair has a 52-week low of $27.60 and a 52-week high of $80.40.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.43. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. Wayfair had a negative net margin of 5.84% and a negative return on equity of 215.36%. The company’s revenue for the quarter was up 42.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.43) earnings per share. Analysts forecast that Wayfair will post ($1.55) earnings per share for the current fiscal year.
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In other news, Director Romero Rodrigues sold 601 shares of Wayfair stock in a transaction on Monday, May 15th. The stock was sold at an average price of $60.43, for a total transaction of $36,318.43. Following the completion of the transaction, the director now owns 9,414 shares of the company’s stock, valued at approximately $568,888.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Champlin Mulliken sold 5,657 shares of Wayfair stock in a transaction on Monday, May 15th. The stock was sold at an average price of $63.99, for a total value of $361,991.43. Following the transaction, the insider now directly owns 203,472 shares of the company’s stock, valued at approximately $13,020,173.28. The disclosure for this sale can be found here. Insiders have sold a total of 800,971 shares of company stock worth $59,065,872 over the last 90 days. Insiders own 63.94% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Wayfair by 9.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,820 shares of the company’s stock valued at $114,000 after buying an additional 247 shares during the period. First Personal Financial Services increased its position in Wayfair by 12.8% in the second quarter. First Personal Financial Services now owns 2,792 shares of the company’s stock valued at $215,000 after buying an additional 317 shares during the period. BNP Paribas Arbitrage SA increased its position in Wayfair by 96.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after buying an additional 667 shares during the period. Nationwide Fund Advisors increased its position in Wayfair by 2.1% in the first quarter. Nationwide Fund Advisors now owns 33,721 shares of the company’s stock valued at $1,365,000 after buying an additional 709 shares during the period. Finally, Pacer Advisors Inc. increased its position in Wayfair by 18.9% in the second quarter. Pacer Advisors Inc. now owns 4,903 shares of the company’s stock valued at $377,000 after buying an additional 779 shares during the period.
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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