Wayfair Inc (W) Receives Consensus Recommendation of “Buy” from Brokerages

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Wayfair Inc (NYSE:W) has received an average recommendation of “Buy” from the twenty-three research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $93.00.

W has been the subject of a number of recent analyst reports. ValuEngine raised Wayfair from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Morgan Stanley initiated coverage on Wayfair in a research report on Wednesday, April 25th. They issued an “equal weight” rating and a $75.00 target price for the company. Oppenheimer boosted their target price on Wayfair to $120.00 and gave the stock an “outperform” rating in a research report on Friday, June 8th. Credit Suisse Group set a $76.00 target price on Wayfair and gave the stock a “hold” rating in a research report on Friday, February 23rd. Finally, DA Davidson decreased their target price on Wayfair to $65.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd.

In related news, insider Edmond Macri sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $66.86, for a total transaction of $40,116.00. Following the completion of the transaction, the insider now directly owns 138,022 shares in the company, valued at approximately $9,228,150.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Conine sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $98.45, for a total value of $393,800.00. Following the transaction, the insider now owns 52,661 shares of the company’s stock, valued at $5,184,475.45. The disclosure for this sale can be found here. Insiders have sold a total of 81,723 shares of company stock valued at $7,792,310 in the last ninety days. Insiders own 37.75% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Wayfair by 52.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,803 shares of the company’s stock worth $145,000 after purchasing an additional 624 shares during the period. Tower Research Capital LLC TRC boosted its stake in Wayfair by 78.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,403 shares of the company’s stock worth $193,000 after purchasing an additional 1,056 shares during the period. Kennedy Capital Management Inc. bought a new position in Wayfair in the 4th quarter worth approximately $215,000. MANA Advisors LLC bought a new position in Wayfair in the 4th quarter worth approximately $219,000. Finally, Delpha Capital Management LLC bought a new position in Wayfair in the 4th quarter worth approximately $250,000. Institutional investors own 74.98% of the company’s stock.

Wayfair traded up $0.56, reaching $114.84, during mid-day trading on Monday, MarketBeat Ratings reports. The company’s stock had a trading volume of 2,614,706 shares, compared to its average volume of 1,757,310. Wayfair has a 12-month low of $55.33 and a 12-month high of $117.45. The company has a debt-to-equity ratio of -3.30, a quick ratio of 0.95 and a current ratio of 1.00. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of -41.01 and a beta of 1.57.

Wayfair (NYSE:W) last issued its earnings results on Wednesday, May 2nd. The company reported ($0.91) earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted ($0.48) EPS. Wayfair’s quarterly revenue was up 46.2% compared to the same quarter last year. research analysts predict that Wayfair will post -4.5 earnings per share for the current year.

Wayfair Company Profile

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.

Analyst Recommendations for Wayfair (NYSE:W)

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