Wayfair (NYSE:W) Given New $50.00 Price Target at Royal Bank of Canada

Wayfair (NYSE:W) had its target price lowered by Royal Bank of Canada from $53.00 to $50.00 in a research report report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages also recently commented on W. Robert W. Baird cut their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday. Loop Capital upped their target price on shares of Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Guggenheim restated a “buy” rating and set a $70.00 target price on shares of Wayfair in a research note on Thursday, September 26th. Citigroup lowered their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Stifel Nicolaus lowered their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday. Thirteen research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Price Performance

Shares of W stock traded up $1.06 during trading hours on Monday, reaching $42.99. The stock had a trading volume of 178,786 shares, compared to its average volume of 4,340,918. The stock’s fifty day simple moving average is $48.64 and its 200 day simple moving average is $52.26. Wayfair has a 12 month low of $38.02 and a 12 month high of $76.18.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the previous year, the firm earned ($1.38) earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the transaction, the insider now directly owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,471 shares of company stock worth $1,987,002 over the last quarter. Insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently modified their holdings of W. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after acquiring an additional 363,948 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in Wayfair during the 1st quarter worth approximately $937,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wayfair by 250.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after buying an additional 119,415 shares in the last quarter. Sei Investments Co. lifted its holdings in Wayfair by 14.6% during the 1st quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock worth $6,818,000 after buying an additional 12,809 shares in the last quarter. Finally, Highland Peak Capital LLC acquired a new stake in Wayfair during the 2nd quarter worth approximately $5,165,000. 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.