Wayfair Inc. (W) Given “Buy” Rating at Oppenheimer Holdings, Inc.
W has been the subject of a number of other research reports. Piper Jaffray Companies set a $87.00 price objective on Wayfair and gave the stock a buy rating in a research report on Friday, July 28th. Buckingham Research reissued a buy rating and issued a $95.00 price objective on shares of Wayfair in a research report on Thursday, August 10th. Gordon Haskett cut Wayfair from a buy rating to an accumulate rating and raised their price objective for the stock from $70.00 to $85.00 in a research report on Tuesday, June 27th. Stifel Nicolaus raised Wayfair from a hold rating to a buy rating and raised their price objective for the stock from $75.00 to $78.00 in a research report on Friday, August 25th. Finally, CIBC raised Wayfair from a market perform rating to an outperform rating in a research report on Friday, June 2nd. Ten equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $71.23.
Wayfair (NYSE W) traded down 1.37% during mid-day trading on Wednesday, reaching $79.86. The company had a trading volume of 677,095 shares. Wayfair has a 52 week low of $27.60 and a 52 week high of $82.75. The firm’s market capitalization is $6.96 billion. The stock’s 50-day moving average price is $72.96 and its 200 day moving average price is $60.67.
Wayfair (NYSE:W) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.43. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The business’s quarterly revenue was up 42.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) EPS. On average, equities research analysts predict that Wayfair will post ($1.45) EPS for the current year.
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In related news, insider Edmond Macri sold 600 shares of Wayfair stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $73.87, for a total value of $44,322.00. Following the completion of the transaction, the insider now owns 500 shares in the company, valued at approximately $36,935. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Niraj Shah sold 50,850 shares of Wayfair stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $73.88, for a total value of $3,756,798.00. Following the completion of the transaction, the chief executive officer now owns 81,819 shares of the company’s stock, valued at approximately $6,044,787.72. The disclosure for this sale can be found here. In the last three months, insiders sold 913,526 shares of company stock valued at $67,307,717. Insiders own 56.93% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake in shares of Wayfair by 96.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after purchasing an additional 667 shares in the last quarter. UBS Group AG increased its stake in shares of Wayfair by 55.5% in the 1st quarter. UBS Group AG now owns 2,690 shares of the company’s stock valued at $109,000 after purchasing an additional 960 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Wayfair in the 1st quarter valued at about $110,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Wayfair by 9.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,820 shares of the company’s stock valued at $114,000 after purchasing an additional 247 shares in the last quarter. Finally, FNY Partners Fund LP increased its stake in shares of Wayfair by 2,900.0% in the 1st quarter. FNY Partners Fund LP now owns 3,000 shares of the company’s stock valued at $121,000 after purchasing an additional 2,900 shares in the last quarter.
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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