Loop Capital Initiates Coverage on Wayfair (W)
Loop Capital initiated coverage on shares of Wayfair (NYSE:W) in a report issued on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $87.00 target price on the stock.
A number of other research analysts have also recently issued reports on the company. Cowen reissued a buy rating and set a $72.00 price objective (down from $82.00) on shares of Wayfair in a report on Wednesday, November 1st. Canaccord Genuity reissued a buy rating and set a $90.00 price objective on shares of Wayfair in a report on Thursday, November 2nd. DA Davidson reissued a hold rating and set a $60.00 price objective on shares of Wayfair in a report on Friday, November 3rd. Credit Suisse Group cut their price objective on Wayfair from $78.00 to $69.00 and set a neutral rating for the company in a report on Friday, November 3rd. Finally, Robert W. Baird cut their price objective on Wayfair from $73.00 to $65.00 and set a neutral rating for the company in a report on Friday, November 3rd. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $83.96.
Shares of Wayfair (NYSE:W) opened at $80.34 on Thursday. Wayfair has a 52 week low of $35.36 and a 52 week high of $100.14. The company has a debt-to-equity ratio of -8.60, a quick ratio of 1.17 and a current ratio of 1.10. The firm has a market cap of $7,110.00, a price-to-earnings ratio of -40.37 and a beta of 1.25.
In other news, Director Robert James Gamgort acquired 5,400 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average cost of $78.13 per share, with a total value of $421,902.00. Following the acquisition, the director now owns 27,175 shares of the company’s stock, valued at approximately $2,123,182.75. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Conine sold 2,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $93.77, for a total value of $187,540.00. Following the sale, the insider now directly owns 34,894 shares of the company’s stock, valued at $3,272,010.38. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 13,600 shares of company stock valued at $1,053,632 and sold 82,004 shares valued at $7,251,130. Insiders own 56.93% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Wayfair by 52.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,803 shares of the company’s stock worth $145,000 after purchasing an additional 624 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Wayfair by 7.3% during the 4th quarter. Guggenheim Capital LLC now owns 9,629 shares of the company’s stock worth $773,000 after buying an additional 654 shares during the period. Advisor Group Inc. grew its position in shares of Wayfair by 19.8% during the 4th quarter. Advisor Group Inc. now owns 4,023 shares of the company’s stock worth $323,000 after buying an additional 666 shares during the period. Keybank National Association OH grew its position in shares of Wayfair by 8.7% during the 4th quarter. Keybank National Association OH now owns 8,620 shares of the company’s stock worth $692,000 after buying an additional 690 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Wayfair by 1.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 51,345 shares of the company’s stock worth $3,461,000 after buying an additional 800 shares during the period. 71.30% of the stock is owned by hedge funds and other institutional investors.
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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