Wayfair Inc. (NYSE:W) Receives Average Recommendation of “Moderate Buy” from Brokerages

Wayfair Inc. (NYSE:W) has received a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the stock, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $60.24.

Several equities analysts recently issued reports on the company. Royal Bank of Canada dropped their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Robert W. Baird cut their price target on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Piper Sandler cut their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Mizuho lowered their target price on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 4th.

Wayfair Trading Up 3.9 %

W stock opened at $45.02 on Monday. The company has a market capitalization of $5.64 billion, a P/E ratio of -10.03 and a beta of 3.43. The business has a 50 day simple moving average of $45.67 and a 200-day simple moving average of $47.35. Wayfair has a twelve month low of $37.35 and a twelve month high of $76.18.

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

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the sale, the insider now owns 632,573 shares in the company, valued at approximately $33,614,929.22. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 5,669 shares of Wayfair stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $42.83, for a total transaction of $242,803.27. Following the completion of the sale, the insider now directly owns 57,899 shares of the company’s stock, valued at $2,479,814.17. The trade was a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,150 shares of company stock valued at $6,250,114 over the last three months. 26.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently made changes to their positions in W. Southpoint Capital Advisors LP purchased a new position in shares of Wayfair during the 3rd quarter worth about $78,652,000. Holocene Advisors LP raised its stake in Wayfair by 5,699.8% during the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after purchasing an additional 1,213,896 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares during the last quarter. Groupama Asset Managment grew its stake in shares of Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after buying an additional 500,000 shares during the period. Finally, Wolf Hill Capital Management LP increased its holdings in shares of Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

About Wayfair

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.