Wayfair Inc. (NYSE:W) – SunTrust Banks cut their FY2016 earnings estimates for shares of Wayfair in a report released on Wednesday. SunTrust Banks analyst R. Hull now expects that the brokerage will earn ($2.53) per share for the year, down from their prior estimate of ($2.23). SunTrust Banks also issued estimates for Wayfair’s Q4 2016 earnings at ($0.73) EPS and FY2017 earnings at ($2.10) EPS.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.05. Wayfair had a negative net margin of 5.29% and a negative return on equity of 91.94%. The firm earned $861.50 million during the quarter, compared to analyst estimates of $849.42 million. During the same period in the previous year, the business posted ($0.13) earnings per share. The business’s revenue for the quarter was up 45.0% on a year-over-year basis.

Earnings History and Estimates for Wayfair (NYSE:W)

Several other equities analysts have also recently issued reports on W. Veritas Investment Research reiterated a “hold” rating on shares of Wayfair in a research note on Friday, August 5th. Maxim Group set a $49.00 price objective on Wayfair and gave the company a “buy” rating in a research note on Tuesday, August 9th. Goldman Sachs Group Inc. cut Wayfair from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $46.00 to $43.00 in a research note on Wednesday, August 10th. Bank of America Corp. cut Wayfair from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $54.00 to $45.00 in a research note on Wednesday, August 10th. Finally, Wedbush decreased their price objective on Wayfair from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Wayfair currently has a consensus rating of “Hold” and an average price target of $51.15.

Shares of Wayfair (NYSE:W) opened at 35.71 on Monday. The company’s market capitalization is $3.05 billion. Wayfair has a 52 week low of $27.60 and a 52 week high of $50.00. The stock has a 50 day moving average of $36.33 and a 200-day moving average of $39.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Samlyn Capital LLC bought a new position in Wayfair during the first quarter worth about $31,237,000. Goldman Sachs Group Inc. raised its position in Wayfair by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 50,569 shares of the company’s stock worth $2,185,000 after buying an additional 9,595 shares during the last quarter. Hennessy Advisors Inc. raised its position in Wayfair by 2.9% in the second quarter. Hennessy Advisors Inc. now owns 848,327 shares of the company’s stock worth $33,085,000 after buying an additional 24,180 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Wayfair by 4.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 555,160 shares of the company’s stock worth $23,994,000 after buying an additional 25,347 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new position in Wayfair during the second quarter worth about $524,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Niraj Shah sold 811 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $39.80, for a total value of $32,277.80. Following the transaction, the chief executive officer now owns 60,500 shares of the company’s stock, valued at $2,407,900. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Steve Oblak sold 1,125 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $39.22, for a total value of $44,122.50. Following the completion of the transaction, the senior vice president now directly owns 95,884 shares in the company, valued at approximately $3,760,570.48. The disclosure for this sale can be found here. 63.94% of the stock is owned by company insiders.

About Wayfair

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.

5 Day Chart for NYSE:W

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