Wayfair (NYSE:W) was downgraded by equities research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Monday, April 30th, MarketBeat reports. They presently have a $63.00 price objective on the stock. Wedbush’s price target would suggest a potential downside of 25.93% from the stock’s current price. Wedbush also issued estimates for Wayfair’s Q2 2018 earnings at ($0.86) EPS, Q3 2018 earnings at ($0.98) EPS, Q4 2018 earnings at ($0.74) EPS, FY2018 earnings at ($3.71) EPS, FY2019 earnings at ($2.50) EPS and FY2020 earnings at ($1.99) EPS.
A number of other brokerages have also weighed in on W. Bank of America set a $100.00 price target on shares of Wayfair and gave the stock a “hold” rating in a research note on Tuesday, February 20th. Piper Jaffray reaffirmed an “overweight” rating and issued a $112.00 price target (up from $89.00) on shares of Wayfair in a research note on Thursday, February 15th. Gordon Haskett lowered shares of Wayfair from a “buy” rating to an “accumulate” rating in a research note on Wednesday, January 31st. Zacks Investment Research lowered shares of Wayfair from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Finally, Oppenheimer increased their target price on shares of Wayfair to $105.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.32.
Shares of NYSE:W traded up $0.46 during trading on Monday, reaching $85.05. 849,837 shares of the company’s stock traded hands, compared to its average volume of 1,923,160. Wayfair has a 12 month low of $83.72 and a 12 month high of $85.50. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of -3.30. The company has a market cap of $7.46 billion, a PE ratio of -30.38 and a beta of 1.39.
Wayfair (NYSE:W) last posted its earnings results on Wednesday, May 2nd. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.01). Wayfair had a negative return on equity of 31,507.11% and a negative net margin of 5.73%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company posted ($0.48) EPS. Wayfair’s revenue for the quarter was up 46.2% on a year-over-year basis. research analysts forecast that Wayfair will post -4.43 EPS for the current fiscal year.
In other Wayfair news, insider Edmond Macri sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $81.01, for a total value of $48,606.00. Following the transaction, the insider now owns 848 shares in the company, valued at approximately $68,696.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael D. Fleisher sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the transaction, the chief financial officer now owns 56,041 shares in the company, valued at approximately $5,548,059. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 13,600 shares of company stock valued at $1,053,632 and sold 76,008 shares valued at $6,431,850. 37.75% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in W. Legal & General Group Plc increased its stake in shares of Wayfair by 27.6% during the 3rd quarter. Legal & General Group Plc now owns 16,943 shares of the company’s stock worth $1,142,000 after purchasing an additional 3,660 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Wayfair by 36.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 118,800 shares of the company’s stock worth $8,008,000 after purchasing an additional 31,791 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Wayfair by 27.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 61,491 shares of the company’s stock worth $4,146,000 after purchasing an additional 13,222 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Wayfair during the 3rd quarter worth $223,000. Finally, California Public Employees Retirement System increased its stake in shares of Wayfair by 4.9% during the 3rd quarter. California Public Employees Retirement System now owns 119,341 shares of the company’s stock worth $8,044,000 after purchasing an additional 5,541 shares during the last quarter. Institutional investors own 70.79% of the company’s stock.
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.
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