Wayfair Inc (W) Given Average Recommendation of “Buy” by Brokerages
Wayfair Inc (NYSE:W) has been given a consensus rating of “Buy” by the twenty-six research firms that are covering the company, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $77.70.
A number of equities research analysts recently weighed in on the stock. Cowen reaffirmed a “buy” rating on shares of Wayfair in a report on Friday, January 12th. Wedbush reissued an “outperform” rating on shares of Wayfair in a report on Wednesday, December 27th. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and set a $88.00 price objective for the company. in a report on Wednesday, January 3rd. Zacks Investment Research raised shares of Wayfair from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Citigroup reissued a “hold” rating and set a $80.00 price objective on shares of Wayfair in a report on Friday, January 5th.
In related news, insider Steven Conine sold 1,226 shares of Wayfair stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $64.08, for a total value of $78,562.08. Following the sale, the insider now directly owns 61,641 shares in the company, valued at approximately $3,949,955.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Edmond Macri sold 1,310 shares of Wayfair stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $86.63, for a total transaction of $113,485.30. Following the completion of the sale, the insider now owns 2,804 shares in the company, valued at $242,910.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,318 shares of company stock worth $4,075,695. Insiders own 56.93% of the company’s stock.
Large investors have recently modified their holdings of the stock. Maverick Capital Ltd. bought a new stake in Wayfair in the 2nd quarter valued at about $4,015,000. BlueCrest Capital Management Ltd bought a new stake in shares of Wayfair during the 2nd quarter worth about $3,466,000. Bank of New York Mellon Corp raised its position in shares of Wayfair by 331.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 583,843 shares of the company’s stock worth $39,351,000 after buying an additional 448,390 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Wayfair by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 113,800 shares of the company’s stock worth $8,749,000 after buying an additional 2,500 shares in the last quarter. Finally, EAM Investors LLC bought a new stake in shares of Wayfair during the 2nd quarter worth about $2,637,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.
Wayfair (NYSE W) traded up $2.28 on Friday, reaching $87.84. 988,485 shares of the company were exchanged, compared to its average volume of 1,331,846. The firm has a market cap of $7,640.00, a price-to-earnings ratio of -35.28 and a beta of 0.96. Wayfair has a 1-year low of $35.36 and a 1-year high of $88.61. The company has a debt-to-equity ratio of 135.98, a quick ratio of 1.17 and a current ratio of 1.19.
Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.03. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Wayfair had a negative net margin of 5.06% and a negative return on equity of 658.45%. The business’s revenue was up 39.1% on a year-over-year basis. During the same period last year, the business earned ($0.54) EPS. analysts forecast that Wayfair will post -2.78 earnings per share for the current year.
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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