Wayfair (NYSE:W) Trading 3.2% Higher – Still a Buy?

Wayfair Inc. (NYSE:W)’s stock price traded up 3.2% during mid-day trading on Friday . The company traded as high as $45.36 and last traded at $45.13. 182,965 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 4,398,500 shares. The stock had previously closed at $43.75.

Wall Street Analyst Weigh In

A number of research firms have commented on W. Deutsche Bank Aktiengesellschaft reduced their price objective on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets decreased their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a report on Monday, November 4th. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. UBS Group dropped their target price on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, Citigroup decreased their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Up 5.1 %

The firm has a 50 day simple moving average of $46.29 and a 200-day simple moving average of $48.74. The stock has a market cap of $5.76 billion, a P/E ratio of -10.24 and a beta of 3.44.

Wayfair (NYSE:W) last announced its quarterly 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 business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the business earned ($1.38) EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Wayfair Inc. will post -2.91 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Kate Gulliver sold 7,330 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the sale, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This represents a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Thomas Netzer sold 8,435 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total transaction of $447,561.10. Following the sale, the chief operating officer now owns 179,180 shares in the company, valued at $9,507,290.80. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,896 shares of company stock valued at $4,869,409. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Creative Planning boosted its holdings in Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after acquiring an additional 272 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Wayfair in the 3rd quarter valued at $29,000. Optimist Retirement Group LLC increased its position in shares of Wayfair by 14.9% during the second quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock worth $231,000 after buying an additional 568 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Wayfair by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock worth $381,000 after buying an additional 788 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Wayfair in the third quarter valued at $44,000. 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.