UBS Group Trims Wayfair (NYSE:W) Target Price to $45.00

Wayfair (NYSE:WGet Rating) had its target price lowered by equities researchers at UBS Group from $65.00 to $45.00 in a research note issued on Friday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 18.80% from the stock’s current price.

A number of other brokerages have also recently issued reports on W. Morgan Stanley decreased their price objective on shares of Wayfair from $70.00 to $65.00 and set an “underweight” rating on the stock in a research note on Monday, August 8th. Stifel Nicolaus dropped their price objective on Wayfair from $60.00 to $55.00 in a research note on Friday, July 15th. William Blair started coverage on Wayfair in a research report on Tuesday, August 2nd. They issued an “outperform” rating for the company. Evercore ISI reduced their price objective on shares of Wayfair to $65.00 in a report on Thursday, June 9th. Finally, Barclays cut their price objective on shares of Wayfair from $57.00 to $50.00 and set an “underweight” rating on the stock in a report on Friday, August 5th. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Wayfair presently has an average rating of “Hold” and a consensus price target of $96.19.

Wayfair Stock Down 3.4 %

Shares of NYSE:W traded down $1.32 during mid-day trading on Friday, reaching $37.88. 54,696 shares of the stock were exchanged, compared to its average volume of 3,724,706. The stock’s 50 day simple moving average is $55.06 and its 200-day simple moving average is $70.26. Wayfair has a one year low of $38.70 and a one year high of $298.00. The company has a market cap of $4.02 billion, a P/E ratio of -4.06 and a beta of 2.87.

Wayfair (NYSE:WGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($3.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.24) by $0.03. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. Analysts anticipate that Wayfair will post -12.28 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, CFO Michael D. Fleisher sold 5,874 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $53.99, for a total transaction of $317,137.26. Following the transaction, the chief financial officer now owns 66,664 shares of the company’s stock, valued at $3,599,189.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Steve Oblak sold 2,037 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $43.90, for a total transaction of $89,424.30. Following the sale, the insider now owns 157,052 shares in the company, valued at $6,894,582.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael D. Fleisher sold 5,874 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $53.99, for a total transaction of $317,137.26. Following the completion of the sale, the chief financial officer now owns 66,664 shares of the company’s stock, valued at $3,599,189.36. The disclosure for this sale can be found here. Insiders sold a total of 20,199 shares of company stock valued at $993,625 in the last ninety days. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

A number of institutional investors have recently added to or reduced their stakes in W. Elequin Capital LP acquired a new stake in shares of Wayfair in the 1st quarter valued at about $45,000. Captrust Financial Advisors grew its position in shares of Wayfair by 102.6% in the 1st quarter. Captrust Financial Advisors now owns 780 shares of the company’s stock worth $86,000 after acquiring an additional 395 shares in the last quarter. Manchester Capital Management LLC acquired a new position in Wayfair in the first quarter worth $111,000. Covestor Ltd grew its position in shares of Wayfair by 2,934.3% during the 1st quarter. Covestor Ltd now owns 1,062 shares of the company’s stock valued at $118,000 after buying an additional 1,027 shares during the last quarter. Finally, CWM LLC lifted its holdings in Wayfair by 186.3% in the second quarter. CWM LLC now owns 1,088 shares of the company’s stock worth $47,000 after acquiring an additional 708 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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