Wayfair (NYSE:W) Reaches New 1-Year Low at $38.11

Wayfair Inc. (NYSE:W) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $38.11 and last traded at $39.02, with a volume of 1057939 shares trading hands. The stock had previously closed at $39.49.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Argus raised shares of Wayfair from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Thursday, May 16th. Royal Bank of Canada dropped their target price on shares of Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Finally, Loop Capital dropped their target price on shares of Wayfair from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Wayfair Price Performance

The business has a fifty day moving average of $51.50 and a 200 day moving average of $56.55. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -7.86 and a beta of 3.43.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the company earned ($1.27) EPS. The business’s revenue was up .2% compared to the same quarter last year. On average, analysts expect that Wayfair Inc. will post -2.8 EPS for the current year.

Insider Buying and Selling at Wayfair

In other news, insider Steven Conine sold 10,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the sale, the insider now owns 219,073 shares in the company, valued at $12,441,155.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Steven Conine sold 10,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the sale, the insider now owns 219,073 shares in the company, valued at $12,441,155.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Fiona Tan sold 8,036 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the completion of the sale, the chief technology officer now owns 64,074 shares in the company, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Insiders have sold a total of 50,102 shares of company stock worth $2,644,559 over the last 90 days. Insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after acquiring an additional 962,307 shares during the period. Norges Bank bought a new position in shares of Wayfair during the fourth quarter valued at $47,374,000. Renaissance Technologies LLC lifted its holdings in shares of Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares during the period. Wolf Hill Capital Management LP lifted its holdings in shares of Wayfair by 22.9% during the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock valued at $122,487,000 after acquiring an additional 432,404 shares during the period. Finally, Kodai Capital Management LP bought a new position in shares of Wayfair during the fourth quarter valued at $23,552,000. 89.67% of the stock is owned by institutional investors.

Wayfair Company Profile

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.