Wayfair (NYSE:W) Price Target Lowered to $43.00 at Royal Bank of Canada

Wayfair (NYSE:W) had its price target lowered by Royal Bank of Canada from $50.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets boosted their price target on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday. Citigroup dropped their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Canaccord Genuity Group decreased their price target on shares of Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a report on Friday. Bank of America dropped their price objective on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Wedbush restated a “neutral” rating and issued a $46.00 target price (up previously from $44.00) on shares of Wayfair in a research note on Friday. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.12.

Wayfair Trading Down 1.2 %

NYSE W opened at $41.32 on Monday. The firm’s fifty day simple moving average is $46.03 and its two-hundred day simple moving average is $46.55. The firm has a market capitalization of $5.18 billion, a P/E ratio of -10.28 and a beta of 3.43. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion. As a group, sell-side analysts predict that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the transaction, the insider now owns 559,073 shares in the company, valued at $25,901,852.09. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Fiona Tan sold 8,249 shares of Wayfair stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the sale, the chief technology officer now directly owns 96,557 shares in the company, valued at $4,336,374.87. This represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,228 shares of company stock valued at $7,830,018 in the last ninety days. 23.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of W. Capital Performance Advisors LLP acquired a new position in Wayfair in the 3rd quarter valued at $29,000. True Wealth Design LLC boosted its stake in Wayfair by 207.1% during the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 381 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Wayfair by 71.3% during the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.