Wayfair Inc. (NYSE:W) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Wayfair Inc. (NYSE:W) have received a consensus rating of “Moderate Buy” from the twenty-six research firms that are covering the firm, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $60.28.

A number of equities research analysts have recently weighed in on W shares. BMO Capital Markets dropped their price target on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. UBS Group dropped their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Barclays reduced their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Guggenheim reissued a “buy” rating and issued a $70.00 target price on shares of Wayfair in a report on Thursday, September 26th.

Wayfair Price Performance

Shares of W stock opened at $44.03 on Friday. Wayfair has a one year low of $37.35 and a one year high of $76.18. The stock has a market cap of $5.52 billion, a P/E ratio of -9.81 and a beta of 3.46. The company has a fifty day moving average price of $47.86 and a two-hundred day moving average price of $50.85.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.38) earnings per share. As a group, equities research analysts anticipate that Wayfair will post -2.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the sale, the insider now directly owns 179,073 shares of the company’s stock, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,868 shares of company stock valued at $3,272,548 over the last 90 days. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Large investors have recently modified their holdings of the company. Southpoint Capital Advisors LP bought a new position in Wayfair in the 3rd quarter valued at about $78,652,000. Holocene Advisors LP raised its stake in shares of Wayfair by 5,699.8% in the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after purchasing an additional 1,213,896 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares in the last quarter. Groupama Asset Managment boosted its position in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after buying an additional 500,000 shares during the last quarter. Finally, Wolf Hill Capital Management LP grew its holdings in Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after buying an additional 432,404 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors.

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.