Barclays Trims Wayfair (NYSE:W) Target Price to $51.00

Wayfair (NYSE:W) had its price target decreased by Barclays from $58.00 to $51.00 in a report released on Monday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the company. TD Cowen raised their price target on Wayfair from $55.00 to $58.00 and gave the stock a hold rating in a research report on Friday, May 3rd. Wedbush lowered their target price on shares of Wayfair from $70.00 to $60.00 and set an outperform rating for the company in a report on Friday. Raymond James cut their price target on shares of Wayfair from $70.00 to $65.00 and set a strong-buy rating on the stock in a research note on Friday. Stifel Nicolaus lowered their price objective on shares of Wayfair from $56.00 to $55.00 and set a hold rating for the company in a research note on Friday. Finally, Loop Capital reduced their target price on Wayfair from $60.00 to $50.00 and set a hold rating on the stock in a report on Friday, June 21st. Eleven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $68.65.

Wayfair Trading Down 1.9 %

Shares of W traded down $0.83 during mid-day trading on Monday, hitting $43.55. 4,531,266 shares of the company’s stock were exchanged, compared to its average volume of 4,304,395. The business’s 50 day moving average is $53.95 and its two-hundred day moving average is $57.26. Wayfair has a fifty-two week low of $38.37 and a fifty-two week high of $85.82. The firm has a market capitalization of $5.24 billion, a P/E ratio of -8.28 and a beta of 3.43.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Wayfair’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.27) earnings per share. On average, equities research analysts forecast that Wayfair will post -2.93 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 6,625 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $50.74, for a total value of $336,152.50. Following the transaction, the chief operating officer now directly owns 157,239 shares of the company’s stock, valued at $7,978,306.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jon Blotner sold 4,395 shares of Wayfair stock in a transaction on Monday, July 15th. The stock was sold at an average price of $56.09, for a total transaction of $246,515.55. Following the sale, the insider now directly owns 43,926 shares in the company, valued at $2,463,809.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 6,625 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total transaction of $336,152.50. Following the transaction, the chief operating officer now owns 157,239 shares of the company’s stock, valued at approximately $7,978,306.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,102 shares of company stock worth $2,644,559. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently bought and sold shares of W. Capital World Investors lifted its stake in shares of Wayfair by 8.7% during the 4th quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after buying an additional 962,307 shares in the last quarter. Norges Bank purchased a new position in shares of Wayfair in the fourth quarter valued at $47,374,000. Kodai Capital Management LP purchased a new position in Wayfair during the 4th quarter valued at about $23,552,000. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after buying an additional 363,948 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in Wayfair in the 1st quarter worth approximately $13,690,000. Hedge funds and other institutional investors 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.