Royal Bank of Canada Has Lowered Expectations for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its price objective lowered by Royal Bank of Canada from $50.00 to $43.00 in a report published on Monday,Benzinga reports. The firm currently has a sector perform rating on the stock.

W has been the topic of a number of other reports. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. 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 report on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Wayfair in a report on Friday, February 21st. Raymond James set a $60.00 price objective on Wayfair and gave the stock a “strong-buy” rating in a report on Friday, February 21st. Finally, BMO Capital Markets upped their price objective on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, February 21st. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and a consensus target price of $58.12.

Wayfair Price Performance

NYSE W opened at $42.67 on Monday. The firm has a market cap of $5.35 billion, a PE ratio of -10.61 and a beta of 3.43. Wayfair has a one year low of $37.35 and a one year high of $76.18. The stock’s 50 day simple moving average is $45.88 and its 200 day simple moving average is $46.57.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.07 billion. As a group, equities analysts expect that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 1,039 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the transaction, the chief operating officer now owns 171,790 shares in the company, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Blotner sold 5,669 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.83, for a total value of $242,803.27. Following the transaction, the insider now owns 57,899 shares of the company’s stock, valued at approximately $2,479,814.17. This trade represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,228 shares of company stock valued at $7,830,018. 23.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently added to or reduced their stakes in W. True Wealth Design LLC grew its holdings in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after acquiring an additional 244 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Wayfair by 577.0% in the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Wayfair in the 3rd quarter valued at about $29,000. Finally, GAMMA Investing LLC grew its holdings in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. Institutional investors 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.