Loop Capital initiated coverage on shares of Wayfair (NYSE:W) in a report issued on Thursday, The Fly reports. The brokerage set a “buy” rating on the stock.
W has been the subject of several other reports. Stifel Nicolaus reiterated a “hold” rating and set a $90.00 price objective on shares of Wayfair in a report on Thursday, February 22nd. DA Davidson cut their price objective on Wayfair to $65.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Credit Suisse Group set a $76.00 price objective on Wayfair and gave the stock a “hold” rating in a report on Friday, February 23rd. Piper Jaffray Companies reiterated an “overweight” rating on shares of Wayfair in a report on Friday, February 23rd. Finally, Robert W. Baird increased their price objective on Wayfair to $78.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $83.80.
Shares of Wayfair (NYSE W) traded up $1.86 during trading on Thursday, hitting $79.28. The stock had a trading volume of 2,283,887 shares, compared to its average volume of 2,014,180. The firm has a market capitalization of $6,698.79, a PE ratio of -28.11 and a beta of 1.05. The company has a current ratio of 1.10, a quick ratio of 1.17 and a debt-to-equity ratio of -8.60. Wayfair has a 1-year low of $35.36 and a 1-year high of $100.14.
In other Wayfair news, COO James Savarese sold 11,773 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $99.96, for a total transaction of $1,176,829.08. Following the transaction, the chief operating officer now directly owns 548,695 shares in the company, valued at $54,847,552.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Niraj Shah sold 1,213 shares of Wayfair stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $76.35, for a total value of $92,612.55. Following the completion of the transaction, the chief executive officer now owns 25,414 shares in the company, valued at $1,940,358.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,151 shares of company stock worth $7,260,812. Corporate insiders own 56.93% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wayfair by 52.9% in the fourth 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 period. Advisors Asset Management Inc. increased its stake in shares of Wayfair by 1,512.5% in the third quarter. Advisors Asset Management Inc. now owns 2,322 shares of the company’s stock worth $157,000 after purchasing an additional 2,178 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Wayfair by 78.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,403 shares of the company’s stock worth $193,000 after purchasing an additional 1,056 shares during the period. Kennedy Capital Management Inc. bought a new position in shares of Wayfair in the fourth quarter worth about $215,000. Finally, MANA Advisors LLC acquired a new stake in Wayfair during the fourth quarter worth about $219,000. Institutional investors and hedge funds own 71.30% of the company’s stock.
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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