Wayfair Inc. (W) Shares Up NaN Following Earnings Beat
Wayfair Inc. (NYSE:W) shot up NaN on Thursday following a better than expected earnings announcement. The company traded as high as $74.49 and last traded at $0.00. 4,399,373 shares were traded during trading, an increase of Infinity from the average session volume of 0 shares. The company reported ($0.65) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.03. Wayfair had a negative net margin of 5.06% and a negative return on equity of 505.51%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business posted ($0.54) earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year.
A number of brokerages have recently issued reports on W. Buckingham Research reaffirmed a “buy” rating and set a $95.00 price objective (up previously from $72.00) on shares of Wayfair in a research report on Thursday, July 13th. They noted that the move was a valuation call. DA Davidson initiated coverage on shares of Wayfair in a research report on Wednesday, September 13th. They set a “neutral” rating and a $78.00 price objective for the company. Piper Jaffray Companies set a $87.00 price objective on shares of Wayfair and gave the stock a “buy” rating in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $88.00 price objective on shares of Wayfair and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Wedbush reaffirmed a “buy” rating on shares of Wayfair in a research report on Wednesday, August 9th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $76.01.
In other Wayfair news, CEO Niraj Shah sold 55,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $76.65, for a total transaction of $4,215,750.00. Following the transaction, the chief executive officer now directly owns 72,630 shares in the company, valued at approximately $5,567,089.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Champlin Mulliken sold 941 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $62.37, for a total value of $58,690.17. Following the transaction, the insider now owns 1,000 shares in the company, valued at $62,370. The disclosure for this sale can be found here. Insiders sold 420,752 shares of company stock worth $29,788,852 over the last quarter. 56.93% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Wayfair by 16.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,028,832 shares of the company’s stock worth $232,857,000 after purchasing an additional 423,631 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Wayfair in the 2nd quarter worth $27,345,000. Renaissance Technologies LLC lifted its holdings in shares of Wayfair by 818.5% in the 2nd quarter. Renaissance Technologies LLC now owns 338,000 shares of the company’s stock worth $25,985,000 after purchasing an additional 301,200 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Wayfair by 18,904.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 274,239 shares of the company’s stock worth $21,089,000 after purchasing an additional 272,796 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Wayfair by 2.7% in the 2nd quarter. FMR LLC now owns 7,757,688 shares of the company’s stock worth $596,411,000 after purchasing an additional 207,443 shares in the last quarter. Hedge funds and other institutional investors own 66.24% of the company’s stock.
The company has a debt-to-equity ratio of 6.93, a quick ratio of 0.67 and a current ratio of 0.70.
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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