Wayfair (NYSE:W) PT Lowered to $61.00 at Royal Bank of Canada

Wayfair (NYSE:W) had its price objective cut by Royal Bank of Canada from $62.00 to $61.00 in a research report released on Wednesday, Marketbeat reports. They currently have a sector perform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Citigroup increased their price objective on Wayfair from $73.00 to $85.00 and gave the company a buy rating in a report on Thursday, March 28th. Loop Capital increased their price target on Wayfair from $55.00 to $65.00 and gave the company a hold rating in a research note on Tuesday, April 2nd. Canaccord Genuity Group restated a buy rating and issued a $80.00 price target on shares of Wayfair in a research note on Friday, February 23rd. Barclays dropped their price target on Wayfair from $85.00 to $60.00 and set an equal weight rating on the stock in a research note on Thursday, January 4th. Finally, Wedbush restated an outperform rating and issued a $70.00 price target on shares of Wayfair in a research note on Monday, April 22nd. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $76.21.

Wayfair Trading Up 2.1 %

NYSE W opened at $52.02 on Wednesday. The company has a market cap of $6.26 billion, a PE ratio of -7.98 and a beta of 3.29. Wayfair has a 12 month low of $29.51 and a 12 month high of $90.71. The stock has a 50 day moving average of $59.59 and a 200-day moving average of $55.03.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.08. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, sell-side analysts predict that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Transactions at Wayfair

In related news, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total value of $250,794.88. Following the sale, the insider now directly owns 37,957 shares of the company’s stock, valued at $2,297,157.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jon Blotner sold 4,144 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.52, for a total value of $250,794.88. Following the sale, the insider now directly owns 37,957 shares of the company’s stock, valued at $2,297,157.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Fiona Tan sold 5,315 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the sale, the chief technology officer now directly owns 51,095 shares in the company, valued at $3,222,050.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,808 shares of company stock valued at $5,445,222. 26.81% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

Hedge funds have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of Wayfair during the first quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Wayfair during the fourth quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in shares of Wayfair during the fourth quarter valued at about $31,000. BluePath Capital Management LLC acquired a new stake in shares of Wayfair during the third quarter valued at about $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Wayfair during the third quarter valued at about $34,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.