Loop Capital Cuts Wayfair (NYSE:W) Price Target to $45.00

Wayfair (NYSE:W) had its price objective cut by research analysts at Loop Capital from $55.00 to $45.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price target points to a potential upside of 4.77% from the stock’s previous close.

W has been the topic of several other reports. Stifel Nicolaus cut their target price on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday. Robert W. Baird cut their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets cut their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, November 4th. Citigroup cut their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.52.

Wayfair Stock Performance

Shares of Wayfair stock traded down $3.11 on Friday, reaching $42.95. The company had a trading volume of 2,186,845 shares, compared to its average volume of 3,646,238. The firm’s 50 day moving average price is $46.42 and its two-hundred day moving average price is $46.50. The firm has a market cap of $5.38 billion, a PE ratio of -9.57 and a beta of 3.43. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. As a group, sell-side analysts predict that Wayfair will post -2.89 EPS for the current year.

Insider Activity

In related news, CTO Fiona Tan sold 8,249 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the sale, the chief technology officer now owns 96,557 shares in the company, valued at $4,336,374.87. This represents a 7.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Blotner sold 5,669 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the sale, the insider now owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. This represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,228 shares of company stock worth $6,440,118. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of large investors have recently bought and sold shares of W. Tabor Asset Management LP raised its position in Wayfair by 11.3% during the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after buying an additional 15,932 shares during the last quarter. Groupama Asset Managment raised its position in Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after buying an additional 500,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Wayfair during the 4th quarter worth $6,799,000. Wellington Management Group LLP raised its position in Wayfair by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after buying an additional 201,157 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in Wayfair during the 3rd quarter worth $1,070,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.