Wayfair Inc. (NYSE:W) Lowered to Hold at BidaskClub
Wayfair Inc. (NYSE:W) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other equities research analysts have also issued reports on W. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Wayfair in a report on Saturday, May 6th. Piper Jaffray Companies set a $87.00 price objective on shares of Wayfair and gave the company a “buy” rating in a report on Saturday, July 1st. Canaccord Genuity reaffirmed a “buy” rating on shares of Wayfair in a report on Tuesday. Wolfe Research reaffirmed an “outperform” rating on shares of Wayfair in a report on Wednesday. Finally, Buckingham Research reaffirmed a “buy” rating and set a $95.00 price objective on shares of Wayfair in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $69.15.
Wayfair (NYSE W) traded up 1.616% during trading on Friday, hitting $70.125. 294,466 shares of the stock were exchanged. The company has a 50-day moving average price of $75.93 and a 200 day moving average price of $55.75. Wayfair has a 1-year low of $27.60 and a 1-year high of $82.19. The firm’s market capitalization is $6.11 billion.
Wayfair (NYSE:W) last released its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.43. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted ($0.43) EPS. The firm’s quarterly revenue was up 42.7% compared to the same quarter last year. Equities analysts predict that Wayfair will post ($1.46) earnings per share for the current fiscal year.
In related news, COO James Savarese sold 21,663 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $80.32, for a total value of $1,739,972.16. Following the completion of the sale, the chief operating officer now directly owns 533,821 shares in the company, valued at $42,876,502.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Malone sold 1,500 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $79.95, for a total value of $119,925.00. Following the completion of the sale, the insider now owns 6,793 shares of the company’s stock, valued at $543,100.35. The disclosure for this sale can be found here. Insiders have sold a total of 800,971 shares of company stock valued at $59,065,872 over the last quarter. Corporate insiders own 63.94% of the company’s stock.
A number of hedge funds have recently modified their holdings of W. Renaissance Technologies LLC acquired a new stake in Wayfair during the fourth quarter valued at $880,000. Guggenheim Capital LLC increased its stake in Wayfair by 48.7% in the fourth quarter. Guggenheim Capital LLC now owns 15,491 shares of the company’s stock valued at $543,000 after buying an additional 5,073 shares during the period. Teachers Advisors LLC increased its stake in Wayfair by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 126,565 shares of the company’s stock valued at $4,436,000 after buying an additional 6,865 shares during the period. Nationwide Fund Advisors increased its stake 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, Hamilton Lane Advisors LLC increased its stake in Wayfair by 41.0% in the first quarter. Hamilton Lane Advisors LLC now owns 45,381 shares of the company’s stock valued at $1,837,000 after buying an additional 13,191 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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