Shares of Wayfair Inc. (NYSE:W) have been assigned a consensus recommendation of “Hold” from the twenty-two research firms that are presently covering the stock. Fourteen research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $52.02.
Several brokerages have recently weighed in on W. Zacks Investment Research upgraded Wayfair from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Thursday, August 11th. Longbow Research began coverage on Wayfair in a research note on Thursday, June 16th. They set a “neutral” rating for the company. Oppenheimer Holdings Inc. restated a “sector perform” rating on shares of Wayfair in a research note on Sunday, August 14th. Vetr downgraded Wayfair from a “strong-buy” rating to a “buy” rating and set a $46.67 target price for the company. in a research note on Wednesday, June 22nd. Finally, Cowen and Company restated a “buy” rating and set a $61.00 target price on shares of Wayfair in a research note on Tuesday, June 21st.
In other news, major shareholder Steven Conine sold 12,000 shares of Wayfair stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $40.72, for a total transaction of $488,640.00. Following the sale, the insider now owns 12,000 shares of the company’s stock, valued at $488,640. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Andrew Kumin sold 500,000 shares of Wayfair stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $38.23, for a total value of $19,115,000.00. The disclosure for this sale can be found here. Insiders own 63.94% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its stake in shares of Wayfair by 134.8% in the second quarter. Baillie Gifford & Co. now owns 1,509,644 shares of the company’s stock valued at $58,876,000 after buying an additional 866,829 shares during the last quarter. Samlyn Capital LLC purchased a new stake in shares of Wayfair during the first quarter valued at approximately $31,237,000. Emerald Acquisition Ltd. purchased a new stake in shares of Wayfair during the second quarter valued at approximately $20,508,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Wayfair by 99.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 640,840 shares of the company’s stock valued at $24,993,000 after buying an additional 320,074 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Wayfair by 60.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 708,000 shares of the company’s stock valued at $27,612,000 after buying an additional 268,000 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.
Wayfair (NYSE:W) traded down 0.45% during mid-day trading on Monday, hitting $37.82. The stock had a trading volume of 450,471 shares. The company has a 50-day moving average of $39.65 and a 200-day moving average of $40.14. Wayfair has a 12-month low of $28.85 and a 12-month high of $50.00. The firm’s market cap is $3.21 billion.
Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.41) by $0.02. Wayfair had a negative net margin of 4.20% and a negative return on equity of 56.95%. The company earned $755.70 million during the quarter, compared to analysts’ expectations of $782.43 million. During the same period last year, the business earned ($0.15) earnings per share. The company’s revenue for the quarter was up 60.0% compared to the same quarter last year. Analysts expect that Wayfair will post ($1.67) earnings per share for the current year.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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