StockNews.com began coverage on shares of Wayfair (NYSE:W – Free Report) in a research note published on Thursday. The brokerage issued a sell rating on the stock.
A number of other brokerages also recently issued reports on W. TD Cowen increased their target price on Wayfair from $60.00 to $78.00 and gave the stock a market perform rating in a research note on Friday, August 4th. Evercore ISI lowered their price target on Wayfair from $88.00 to $80.00 and set an in-line rating on the stock in a report on Friday, September 8th. Morgan Stanley upped their price target on Wayfair from $45.00 to $90.00 and gave the stock an equal weight rating in a report on Monday, August 7th. Wedbush restated an outperform rating and issued a $100.00 price target on shares of Wayfair in a report on Friday, August 11th. Finally, Oppenheimer upped their price target on Wayfair from $70.00 to $100.00 and gave the stock an outperform rating in a report on Friday, August 18th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $81.69.
Wayfair Stock Up 3.7 %
Wayfair (NYSE:W – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported ($1.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.33) by $1.06. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.10 billion. As a group, sell-side analysts expect that Wayfair will post -7.33 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Kate Gulliver sold 8,161 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $57.28, for a total value of $467,462.08. Following the transaction, the chief financial officer now directly owns 58,614 shares of the company’s stock, valued at approximately $3,357,409.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Anke Schaferkordt sold 679 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $73.10, for a total value of $49,634.90. Following the transaction, the director now directly owns 9,286 shares of the company’s stock, valued at approximately $678,806.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kate Gulliver sold 8,161 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $57.28, for a total value of $467,462.08. Following the completion of the transaction, the chief financial officer now directly owns 58,614 shares in the company, valued at $3,357,409.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,358 shares of company stock valued at $3,603,854. 26.81% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in W. Acadian Asset Management LLC purchased a new position in Wayfair in the second quarter valued at about $31,000. Captrust Financial Advisors grew its stake in shares of Wayfair by 24.1% during the second quarter. Captrust Financial Advisors now owns 968 shares of the company’s stock valued at $42,000 after acquiring an additional 188 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Wayfair during the third quarter valued at about $44,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Wayfair during the second quarter worth about $45,000. Finally, State of Wyoming purchased a new stake in shares of Wayfair during the second quarter worth about $54,000. 89.67% of the stock is owned by hedge funds and other institutional investors.
About Wayfair
Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately fourty million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.
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