Royal Bank of Canada Cuts Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:W) had its price target trimmed by Royal Bank of Canada from $53.00 to $50.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other equities research analysts have also recently commented on W. Barclays lowered their price objective on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $58.00 in a research report on Thursday, August 1st. Loop Capital lifted their price objective on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Finally, Raymond James dropped their price target on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Trading Down 8.8 %

W stock opened at $40.43 on Monday. The company has a market cap of $4.99 billion, a price-to-earnings ratio of -9.00 and a beta of 3.46. The firm has a 50 day moving average of $48.61 and a 200-day moving average of $52.11. Wayfair has a 12-month low of $37.60 and a 12-month high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.38) earnings per share. Sell-side analysts forecast that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,868 shares of company stock valued at $2,003,248. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Wayfair by 250.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock valued at $11,347,000 after acquiring an additional 119,415 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Wayfair by 118.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock valued at $1,141,000 after purchasing an additional 9,108 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after buying an additional 471 shares during the period. Signaturefd LLC lifted its holdings in Wayfair by 1.3% in the 1st quarter. Signaturefd LLC now owns 206,489 shares of the company’s stock worth $14,016,000 after buying an additional 2,714 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in Wayfair in the 1st quarter valued at about $37,000. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

About Wayfair

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.