Wayfair Inc. (NYSE:W) Price Target Lowered to $65.00 at Robert W. Baird

Wayfair Inc. (NYSE:W) had its target price lowered by stock analysts at Robert W. Baird from $73.00 to $65.00 in a research report issued on Friday, November 3rd. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential downside of 4.76% from the stock’s current price.

W has been the subject of a number of other reports. Credit Suisse Group decreased their price target on Wayfair from $78.00 to $69.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. DA Davidson reissued a “hold” rating and set a $60.00 price target on shares of Wayfair in a research note on Friday, November 3rd. Canaccord Genuity restated a “buy” rating and set a $90.00 price objective on shares of Wayfair in a report on Thursday, November 2nd. Cowen and Company restated a “buy” rating and set a $72.00 price objective (down from $82.00) on shares of Wayfair in a report on Wednesday, November 1st. Finally, MKM Partners started coverage on Wayfair in a report on Wednesday, October 18th. They set a “buy” rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Wayfair presently has a consensus rating of “Buy” and an average target price of $76.01.

Wayfair (W) traded up $0.16 during trading hours on Friday, hitting $68.25. The company had a trading volume of 623,060 shares, compared to its average volume of 1,549,070. The company has a debt-to-equity ratio of 135.98, a current ratio of 1.19 and a quick ratio of 1.17. Wayfair has a 12-month low of $33.60 and a 12-month high of $84.19.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.03. Wayfair had a negative return on equity of 658.45% and a negative net margin of 5.06%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company earned ($0.54) earnings per share. The firm’s revenue was up 39.1% on a year-over-year basis. research analysts anticipate that Wayfair will post -2.63 EPS for the current year.

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In other Wayfair news, insider John Champlin Mulliken sold 700 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $67.55, for a total transaction of $47,285.00. Following the completion of the sale, the insider now directly owns 185,943 shares in the company, valued at approximately $12,560,449.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Steve Oblak sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $77.92, for a total value of $31,168.00. Following the completion of the sale, the senior vice president now owns 120,621 shares of the company’s stock, valued at $9,398,788.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,407 shares of company stock valued at $12,205,331. 56.93% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in W. BNP Paribas Arbitrage SA lifted its holdings in Wayfair by 96.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after acquiring an additional 667 shares during the last quarter. UBS Group AG lifted its holdings in Wayfair by 55.5% in the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock valued at $109,000 after acquiring an additional 960 shares during the last quarter. Delta Asset Management LLC TN lifted its holdings in Wayfair by 375.0% in the third quarter. Delta Asset Management LLC TN now owns 1,900 shares of the company’s stock valued at $128,000 after acquiring an additional 1,500 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Wayfair in the first quarter valued at approximately $137,000. Finally, First Mercantile Trust Co. acquired a new position in Wayfair in the second quarter valued at approximately $138,000. Hedge funds and other institutional investors own 70.06% of the company’s stock.

About Wayfair

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.

Analyst Recommendations for Wayfair (NYSE:W)

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