Wayfair Inc. (W) Upgraded to Hold by Zacks Investment Research
Wayfair Inc. (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
Several other equities research analysts have also commented on the stock. KeyCorp reiterated a “hold” rating on shares of Wayfair in a research note on Tuesday, November 8th. Maxim Group cut their price target on shares of Wayfair from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, November 9th. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Wayfair in a research note on Tuesday, November 1st. Canaccord Genuity reiterated a “buy” rating and set a $55.00 price target on shares of Wayfair in a research note on Tuesday, October 4th. Finally, Vetr upgraded shares of Wayfair from a “buy” rating to a “strong-buy” rating and set a $42.28 price target on the stock in a research note on Wednesday, September 14th. Fourteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Wayfair currently has a consensus rating of “Hold” and an average price target of $51.15.
Wayfair (NYSE:W) opened at 35.04 on Thursday. The firm has a 50 day moving average of $35.25 and a 200-day moving average of $38.92. The firm’s market cap is $3.00 billion. Wayfair has a 12 month low of $27.60 and a 12 month high of $50.00.
Wayfair (NYSE:W) last announced its quarterly 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 firm had revenue of $861.50 million for the quarter, compared to analyst estimates of $849.42 million. During the same period last year, the business earned ($0.13) EPS. Wayfair’s revenue for the quarter was up 45.0% compared to the same quarter last year. On average, equities research analysts forecast that Wayfair will post ($1.84) earnings per share for the current year.
In other Wayfair news, SVP Steve Oblak sold 770 shares of Wayfair stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $35.76, for a total transaction of $27,535.20. Following the completion of the transaction, the senior vice president now owns 96,875 shares in the company, valued at $3,464,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Great Hill Equity Partners Iv sold 300,000 shares of Wayfair stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $38.10, for a total transaction of $11,430,000.00. The disclosure for this sale can be found here. 63.94% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in 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 in the last quarter. BNP Paribas Arbitrage SA increased its stake in Wayfair by 112.9% in the third quarter. BNP Paribas Arbitrage SA now owns 2,629 shares of the company’s stock worth $104,000 after buying an additional 1,394 shares during the last quarter. BlackRock Inc. increased its stake in Wayfair by 70.0% in the second quarter. BlackRock Inc. now owns 2,689 shares of the company’s stock worth $105,000 after buying an additional 1,107 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Wayfair during the second quarter worth about $107,000. Finally, Legal & General Group Plc increased its stake in Wayfair by 28.8% in the second quarter. Legal & General Group Plc now owns 3,810 shares of the company’s stock worth $149,000 after buying an additional 853 shares during the last quarter. 70.75% of the stock is owned by institutional investors and hedge funds.
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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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