Zacks Investment Research Upgrades Wayfair Inc. (W) to Hold
Wayfair Inc. (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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 analysts have also recently issued research reports about the stock. Canaccord Genuity restated a “buy” rating and issued a $55.00 target price on shares of Wayfair in a research note on Tuesday, October 4th. Maxim Group set a $49.00 target price on shares of Wayfair and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Vetr cut shares of Wayfair from a “strong-buy” rating to a “buy” rating and set a $42.28 target price for the company. in a research note on Friday, August 12th. Pacific Crest restated an “equal weight” rating on shares of Wayfair in a research note on Sunday, August 14th. Finally, Veritas Investment Research restated a “hold” rating on shares of Wayfair in a research note on Friday, August 5th. Fourteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.15.
Shares of Wayfair (NYSE:W) opened at 33.30 on Thursday. The company’s 50-day moving average is $36.33 and its 200 day moving average is $39.00. The stock’s market cap is $2.85 billion. Wayfair has a 52 week low of $27.60 and a 52 week high of $50.00.
Wayfair (NYSE:W) last released its earnings results on Tuesday, November 8th. The company reported ($0.54) EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company earned $861.50 million during the quarter, compared to analysts’ expectations of $849.42 million. During the same quarter last year, the business earned ($0.13) EPS. The business’s revenue was up 45.0% on a year-over-year basis. Analysts forecast that Wayfair will post ($1.84) earnings per share for the current fiscal year.
In other Wayfair news, COO James Savarese sold 1,682 shares of Wayfair stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $36.24, for a total transaction of $60,955.68. Following the transaction, the chief operating officer now directly owns 606,392 shares of the company’s stock, valued at $21,975,646.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Edmond Macri sold 835 shares of Wayfair stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $39.08, for a total transaction of $32,631.80. Following the transaction, the insider now directly owns 235,875 shares in the company, valued at $9,217,995. The disclosure for this sale can be found here. Insiders own 63.94% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in shares of Wayfair by 9.2% in the third quarter. Pacer Advisors Inc. now owns 2,562 shares of the company’s stock worth $101,000 after buying an additional 216 shares during the period. Wedbush Securities Inc. boosted its position in shares of Wayfair by 2.9% in the third quarter. Wedbush Securities Inc. now owns 10,672 shares of the company’s stock worth $420,000 after buying an additional 300 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Wayfair by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 124,005 shares of the company’s stock worth $4,836,000 after buying an additional 422 shares during the period. BlackRock Inc. boosted its position in shares of Wayfair by 17.3% in the third quarter. BlackRock Inc. now owns 3,153 shares of the company’s stock worth $124,000 after buying an additional 464 shares during the period. Finally, Teachers Advisors Inc. boosted its position in shares of Wayfair by 2.3% in the first quarter. Teachers Advisors Inc. now owns 30,241 shares of the company’s stock worth $1,307,000 after buying an additional 691 shares during the period. 71.49% of the stock is currently owned by hedge funds and other institutional investors.
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.
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