Wayfair (NYSE:W – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.
Other analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Wayfair in a report on Monday, September 14th. Royal Bank Of Canada upped their target price on shares of Wayfair from $78.00 to $92.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Citigroup lifted their price target on shares of Wayfair from $95.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. boosted their price target on shares of Wayfair from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $108.00 price objective on shares of Wayfair in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and an average price target of $120.61.
View Our Latest Stock Analysis on W
Wayfair Stock Performance
Wayfair (NYSE:W – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. As a group, analysts predict that Wayfair will post 0.93 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Wayfair news, CEO Niraj Shah sold 69,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the completion of the sale, the chief executive officer directly owned 360,137 shares of the company’s stock, valued at $37,223,760.32. This represents a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total value of $7,131,840.00. Following the sale, the director directly owned 360,073 shares of the company’s stock, valued at $37,217,145.28. The trade was a 16.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 288,893 shares of company stock valued at $29,795,521 over the last quarter. 18.44% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Wayfair
Several hedge funds have recently modified their holdings of the stock. Capital World Investors raised its position in Wayfair by 0.6% during the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock worth $1,351,237,000 after buying an additional 82,584 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Wayfair by 8.3% in the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after acquiring an additional 296,233 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Wayfair by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock valued at $283,724,000 after acquiring an additional 8,598 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Wayfair by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 1,903,219 shares of the company’s stock valued at $191,145,000 after acquiring an additional 185,897 shares in the last quarter. Finally, Wolf Hill Capital Management LP increased its stake in shares of Wayfair by 62.5% during the fourth quarter. Wolf Hill Capital Management LP now owns 1,273,004 shares of the company’s stock worth $127,822,000 after acquiring an additional 489,404 shares during the period. 89.67% of the stock is owned by institutional investors and hedge funds.
Wayfair Company Profile
Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.
Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.
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