Brokerages Set Wayfair Inc. (NYSE:W) PT at $60.28

Shares of Wayfair Inc. (NYSE:W) have been assigned an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are covering the firm, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $60.28.

A number of analysts have commented on W shares. Loop Capital increased their price objective on shares of Wayfair from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada cut their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Guggenheim reissued a “buy” rating and set a $70.00 price objective on shares of Wayfair in a research note on Thursday, September 26th. BMO Capital Markets cut their target price on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Finally, Argus lowered Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This trade represents a 8.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the sale, the chief financial officer now directly owns 117,947 shares in the company, valued at $6,257,088.35. This represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,896 shares of company stock valued at $4,869,409. Corporate insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Wayfair in the 3rd quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Wayfair during the 3rd quarter worth $44,000. Brooklyn Investment Group acquired a new position in shares of Wayfair during the third quarter worth $50,000. International Assets Investment Management LLC purchased a new position in Wayfair in the second quarter valued at $58,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Wayfair in the third quarter valued at $67,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Stock Performance

NYSE W opened at $45.72 on Thursday. The business has a fifty day moving average price of $46.12 and a 200 day moving average price of $48.60. The company has a market cap of $5.73 billion, a P/E ratio of -10.18 and a beta of 3.44. Wayfair has a one year low of $37.35 and a one year high of $76.18.

Wayfair (NYSE:W) last issued its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. Wayfair’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.38) earnings per share. As a group, sell-side analysts predict that Wayfair will post -2.91 EPS for the current fiscal year.

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.