Wayfair Inc. (NYSE:W) Receives Consensus Rating of “Moderate Buy” from Brokerages

Wayfair Inc. (NYSE:W) has been given a consensus rating of “Moderate Buy” by the twenty-five research firms that are presently covering the stock, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $65.83.

W has been the topic of a number of recent analyst reports. Citigroup reduced their price target on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Loop Capital lifted their price target on shares of Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Finally, Gordon Haskett cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

Wayfair Trading Up 0.2 %

NYSE W opened at $54.38 on Friday. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of -10.28 and a beta of 3.42. The company has a 50 day moving average of $47.02 and a 200-day moving average of $54.17. Wayfair has a 1-year low of $38.02 and a 1-year high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.27) earnings per share. On average, analysts forecast that Wayfair will post -2.68 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other news, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the sale, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at approximately $4,491,794.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the transaction, the chief financial officer now directly owns 117,947 shares in the company, valued at $6,257,088.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,686 shares of company stock valued at $2,007,168. 26.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the stock. Riverview Trust Co purchased a new stake in shares of Wayfair in the 1st quarter worth $27,000. ORG Partners LLC bought a new position in Wayfair in the 1st quarter worth $37,000. International Assets Investment Management LLC bought a new position in Wayfair in the 2nd quarter worth $58,000. Comerica Bank boosted its holdings in Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after buying an additional 829 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after buying an additional 471 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

About Wayfair

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.