Wayfair’s (W) “Buy” Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Wayfair (NYSE:W) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $70.00 price objective on the stock.

Several other research analysts also recently commented on the stock. Raymond James decreased their target price 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, August 2nd. StockNews.com raised shares of Wayfair from a sell rating to a hold rating in a research note on Monday, August 5th. Royal Bank of Canada decreased their target price on shares of Wayfair from $65.00 to $53.00 and set a sector perform rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wayfair from $87.00 to $70.00 and set a buy rating on the stock in a research note on Friday, August 2nd. Finally, Gordon Haskett downgraded shares of Wayfair from a buy rating to a hold rating in a research note on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $65.83.

Wayfair Price Performance

Shares of Wayfair stock opened at $56.76 on Thursday. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18. The firm has a market cap of $6.83 billion, a PE ratio of -10.59 and a beta of 3.40. The company has a 50 day simple moving average of $46.51 and a two-hundred day simple moving average of $54.66.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.27) EPS. As a group, research analysts anticipate that Wayfair will post -2.66 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,395 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $56.09, for a total transaction of $246,515.55. Following the transaction, the insider now owns 43,926 shares in the company, valued at approximately $2,463,809.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Thomas Netzer sold 6,625 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total value of $336,152.50. Following the transaction, the chief operating officer now owns 157,239 shares in the company, valued at approximately $7,978,306.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 4,395 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 43,926 shares in the company, valued at approximately $2,463,809.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,113 shares of company stock worth $2,126,623. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC increased its holdings in Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after acquiring an additional 271 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Wayfair by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after buying an additional 360 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Wayfair by 12.0% during the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock valued at $252,000 after buying an additional 399 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Wayfair during the first quarter valued at approximately $27,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Wayfair by 39.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after buying an additional 471 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.