Piper Jaffray Companies reaffirmed their overweight rating on shares of Wayfair (NYSE:W) in a research note published on Friday, The Fly reports.
Several other equities research analysts have also weighed in on W. Cowen reaffirmed a buy rating and issued a $72.00 target price (down from $82.00) on shares of Wayfair in a research report on Wednesday, November 1st. Canaccord Genuity reaffirmed a buy rating and issued a $90.00 target price on shares of Wayfair in a research report on Thursday, November 2nd. DA Davidson reaffirmed a hold rating and issued a $60.00 target price on shares of Wayfair in a research report on Friday, November 3rd. Credit Suisse Group dropped their target price on Wayfair from $78.00 to $69.00 and set a neutral rating on the stock in a research report on Friday, November 3rd. Finally, Robert W. Baird dropped their target price on Wayfair from $73.00 to $65.00 and set a neutral rating on the stock in a research report on Friday, November 3rd. Twelve research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $83.80.
Wayfair (NYSE:W) opened at $75.25 on Friday. Wayfair has a one year low of $35.36 and a one year high of $100.14. The company has a debt-to-equity ratio of 135.98, a current ratio of 1.19 and a quick ratio of 1.17.
In related news, insider Edmond Macri sold 600 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $68.80, for a total transaction of $41,280.00. Following the completion of the transaction, the insider now owns 500 shares of the company’s stock, valued at $34,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Niraj Shah sold 2,769 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $97.45, for a total value of $269,839.05. The disclosure for this sale can be found here. Insiders have sold 82,951 shares of company stock worth $7,312,515 over the last three months. Corporate insiders own 56.93% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Wayfair by 331.0% during the third quarter. Bank of New York Mellon Corp now owns 583,843 shares of the company’s stock valued at $39,351,000 after buying an additional 448,390 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Wayfair by 37.1% during the third quarter. Russell Investments Group Ltd. now owns 375,935 shares of the company’s stock valued at $25,336,000 after buying an additional 101,696 shares in the last quarter. Rosenblum Silverman Sutton S F Inc. CA bought a new position in Wayfair during the third quarter valued at about $2,905,000. Allen Investment Management LLC boosted its stake in Wayfair by 11.4% during the third quarter. Allen Investment Management LLC now owns 980,000 shares of the company’s stock valued at $66,052,000 after buying an additional 100,000 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in Wayfair during the third quarter valued at about $4,235,000. 71.30% of the stock is owned by institutional investors and hedge funds.
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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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