Wayfair (NYSE:W) Given “Neutral” Rating at Wedbush

Wayfair (NYSE:W)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a report released on Friday,RTT News reports. They currently have a $46.00 price target on the stock, up from their prior price target of $44.00. Wedbush’s price target would suggest a potential upside of 9.75% from the company’s current price.

Several other brokerages also recently issued reports on W. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Wayfair in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America lowered their price target on Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Finally, Robert W. Baird decreased their price objective on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Fourteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.80.

Wayfair Stock Performance

NYSE:W traded down $4.15 during mid-day trading on Friday, hitting $41.92. The company had a trading volume of 5,676,740 shares, compared to its average volume of 3,753,029. Wayfair has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The business’s fifty day moving average is $46.42 and its two-hundred day moving average is $46.50. The firm has a market cap of $5.25 billion, a P/E ratio of -9.34 and a beta of 3.43.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. Equities analysts forecast that Wayfair will post -2.89 earnings per share for the current year.

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the sale, the insider now directly owns 632,573 shares of the company’s stock, valued at approximately $33,614,929.22. This trade represents a 4.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the sale, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,228 shares of company stock valued at $7,830,018 over the last three months. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several hedge funds have recently added to or reduced their stakes in W. Tabor Asset Management LP increased its stake in Wayfair by 11.3% during the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after acquiring an additional 15,932 shares during the period. Groupama Asset Managment increased its stake in Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after acquiring an additional 500,000 shares during the period. Assenagon Asset Management S.A. bought a new position in Wayfair during the 4th quarter worth $6,799,000. Wellington Management Group LLP increased its stake in Wayfair by 22.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,097,822 shares of the company’s stock worth $61,676,000 after acquiring an additional 201,157 shares during the period. Finally, Cerity Partners LLC bought a new position in Wayfair during the 3rd quarter worth $1,070,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

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