DA Davidson Reiterates “Hold” Rating for Wayfair Inc. (W)
Wayfair Inc. (NYSE:W)‘s stock had its “hold” rating reissued by investment analysts at DA Davidson in a note issued to investors on Friday. They currently have a $60.00 price objective on the stock. DA Davidson’s target price suggests a potential downside of 11.11% from the company’s current price.
A number of other analysts have also commented on W. Buckingham Research reiterated a “buy” rating and issued a $95.00 price objective (up from $72.00) on shares of Wayfair in a research report on Thursday, July 13th. They noted that the move was a valuation call. Piper Jaffray Companies set a $87.00 price objective on Wayfair and gave the stock a “buy” rating in a research report on Friday, July 28th. Wolfe Research initiated coverage on Wayfair in a research report on Thursday, August 3rd. They issued an “outperform” rating and a $88.00 price objective for the company. Oppenheimer Holdings, Inc. set a $88.00 price objective on Wayfair and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, BidaskClub lowered Wayfair from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $76.01.
Shares of Wayfair (NYSE W) opened at $67.50 on Friday. The company has a debt-to-equity ratio of 6.93, a current ratio of 0.70 and a quick ratio of 0.67. Wayfair has a 12-month low of $27.60 and a 12-month high of $84.19.
Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, November 2nd. The company reported ($0.65) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.03. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Wayfair had a negative return on equity of 505.51% and a negative net margin of 5.06%. The company’s revenue was up 39.1% on a year-over-year basis. During the same period last year, the company earned ($0.54) earnings per share. sell-side analysts predict that Wayfair will post -2.27 EPS for the current fiscal year.
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In other Wayfair news, CFO Michael D. Fleisher sold 516 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $79.86, for a total value of $41,207.76. Following the sale, the chief financial officer now owns 41,893 shares in the company, valued at approximately $3,345,574.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Steve Oblak sold 805 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $70.68, for a total value of $56,897.40. Following the completion of the sale, the senior vice president now owns 120,534 shares in the company, valued at approximately $8,519,343.12. The disclosure for this sale can be found here. Insiders have sold a total of 420,752 shares of company stock worth $29,788,852 in the last quarter. 56.93% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Wayfair by 2.7% in the 2nd quarter. FMR LLC now owns 7,757,688 shares of the company’s stock valued at $596,411,000 after acquiring an additional 207,443 shares in the last quarter. Vanguard Group Inc. lifted its stake in Wayfair by 16.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,028,832 shares of the company’s stock valued at $232,857,000 after acquiring an additional 423,631 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Wayfair by 1.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,938,701 shares of the company’s stock valued at $130,669,000 after acquiring an additional 24,027 shares in the last quarter. Allen Investment Management LLC lifted its stake in Wayfair by 25.7% in the 2nd quarter. Allen Investment Management LLC now owns 880,000 shares of the company’s stock valued at $67,654,000 after acquiring an additional 180,000 shares in the last quarter. Finally, State Street Corp lifted its stake in Wayfair by 1.8% in the 1st quarter. State Street Corp now owns 695,502 shares of the company’s stock valued at $28,158,000 after acquiring an additional 12,398 shares in the last quarter. Hedge funds and other institutional investors own 66.24% of the company’s stock.
Wayfair Company Profile
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.
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