Wayfair Inc. (W) Upgraded by Gordon Haskett to Buy
Wayfair Inc. (NYSE:W) was upgraded by analysts at Gordon Haskett from an “accumulate” rating to a “buy” rating in a research note issued on Tuesday.
Several other brokerages have also weighed in on W. Piper Jaffray Companies set a $87.00 price objective on Wayfair and gave the company a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered Wayfair from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Buckingham Research reissued a “buy” rating and issued a $95.00 price objective (up from $72.00) on shares of Wayfair in a report on Thursday, July 13th. They noted that the move was a valuation call. Maxim Group lowered Wayfair from a “buy” rating to a “hold” rating and boosted their price objective for the company from $27.60 to $76.17 in a report on Monday, June 19th. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. set a $88.00 price objective on Wayfair and gave the company a “buy” rating in a report on Friday, August 4th. Nine equities 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 company’s stock. Wayfair has a consensus rating of “Buy” and a consensus target price of $70.53.
Wayfair (W) traded up 1.61% on Tuesday, hitting $73.63. The stock had a trading volume of 914,081 shares. The stock’s market cap is $6.42 billion. The company’s 50-day moving average is $73.02 and its 200-day moving average is $58.84. Wayfair has a one year low of $27.60 and a one year high of $82.19.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.43. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned ($0.43) earnings per share. The company’s revenue for the quarter was up 42.7% compared to the same quarter last year. On average, analysts anticipate that Wayfair will post ($1.46) earnings per share for the current fiscal year.
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In related news, CFO Michael D. Fleisher sold 4,730 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $65.80, for a total transaction of $311,234.00. Following the sale, the chief financial officer now owns 45,580 shares of the company’s stock, valued at $2,999,164. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO James Savarese sold 21,663 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.32, for a total value of $1,739,972.16. Following the sale, the chief operating officer now directly owns 533,821 shares in the company, valued at approximately $42,876,502.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 921,997 shares of company stock valued at $67,891,058. 56.93% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC bought a new stake in Wayfair during the second quarter worth approximately $27,345,000. Dynamic Technology Lab Private Ltd bought a new stake in Wayfair during the second quarter worth approximately $277,000. Verition Fund Management LLC bought a new stake in Wayfair during the second quarter worth approximately $251,000. California State Teachers Retirement System raised its holdings in Wayfair by 10.0% during the second quarter. California State Teachers Retirement System now owns 68,366 shares of the company’s stock worth $5,256,000 after purchasing an additional 6,224 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in Wayfair during the second quarter worth approximately $3,466,000.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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