Zacks Investment Research upgraded shares of Wayfair Inc. (NYSE:W) from a sell rating to a hold rating in a research report released on Thursday morning.
According to Zacks, “Wayfair Inc. engages in the e-commerce business. It offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. The Company operates under the Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane brands. It offers products and services primarily in the United States. Wayfair LLC is headquartered in Boston, Massachusetts. “
Other equities research analysts have also issued reports about the company. Bank of America Corp. lowered Wayfair from a buy rating to a neutral rating and cut their price objective for the stock from $54.00 to $45.00 in a research report on Wednesday, August 10th. Maxim Group set a $49.00 price target on Wayfair and gave the company a buy rating in a research report on Tuesday, August 9th. Vetr upgraded Wayfair from a buy rating to a strong-buy rating and set a $42.28 price target on the stock in a research report on Thursday, August 18th. Veritas Investment Research restated a hold rating on shares of Wayfair in a research report on Friday, August 5th. Finally, Wedbush dropped their price target on Wayfair from $60.00 to $55.00 and set an outperform rating on the stock in a research report on Wednesday, August 10th. Fourteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $51.15.
Wayfair (NYSE:W) opened at 34.03 on Thursday. The company’s market cap is $2.91 billion. The firm has a 50-day moving average price of $34.91 and a 200-day moving average price of $38.86. Wayfair has a 52 week low of $27.60 and a 52 week high of $50.00.
Wayfair (NYSE:W) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.54) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.05. The firm had revenue of $861.50 million for the quarter, compared to analyst estimates of $849.42 million. Wayfair had a negative return on equity of 91.94% and a negative net margin of 5.29%. The business’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the company earned ($0.13) EPS. Equities research analysts anticipate that Wayfair will post ($1.84) EPS for the current fiscal year.
In other news, CFO Michael D. Fleisher sold 4,608 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $33.50, for a total value of $154,368.00. Following the completion of the transaction, the chief financial officer now owns 45,852 shares in the company, valued at $1,536,042. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 12,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $40.05, for a total value of $480,600.00. Following the completion of the transaction, the chief executive officer now owns 70,000 shares of the company’s stock, valued at approximately $2,803,500. The disclosure for this sale can be found here. Company insiders own 63.94% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of W. Swiss National Bank boosted its position in Wayfair by 20.3% in the second quarter. Swiss National Bank now owns 45,600 shares of the company’s stock valued at $1,778,000 after buying an additional 7,700 shares in the last quarter. New Jersey Better Educational Savings Trust acquired a new position in Wayfair during the second quarter valued at $585,000. State of New Jersey Common Pension Fund D boosted its position in 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 in the last quarter. Northeast Investment Management boosted its position in Wayfair by 14.8% in the second quarter. Northeast Investment Management now owns 142,139 shares of the company’s stock valued at $5,543,000 after buying an additional 18,301 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Wayfair during the second quarter valued at $107,000. Hedge funds and other institutional investors own 71.63% of the company’s stock.
Wayfair Company Profile
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.