Loop Capital Lowers Wayfair (NYSE:W) Price Target to $45.00

Wayfair (NYSE:W) had its price objective decreased by Loop Capital from $55.00 to $45.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s price target would suggest a potential upside of 7.36% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research report on Friday. Mizuho lowered their price target on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 4th. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Wedbush downgraded shares of Wayfair from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $44.00 in a research report on Monday, January 6th. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.40.

Wayfair Stock Down 9.0 %

Shares of Wayfair stock opened at $41.92 on Friday. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18. The company has a market capitalization of $5.25 billion, a P/E ratio of -10.43 and a beta of 3.43. The company has a 50 day moving average of $46.22 and a 200 day moving average of $46.51.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. As a group, research analysts anticipate that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now directly owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares in the company, valued at approximately $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,228 shares of company stock worth $7,830,018. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of large investors have recently made changes to their positions in the stock. Capital World Investors grew its holdings in shares of Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company’s stock worth $598,596,000 after acquiring an additional 782,757 shares during the period. Vanguard Group Inc. boosted its position in Wayfair by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after purchasing an additional 327,603 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Wayfair by 13.6% in the fourth quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company’s stock valued at $273,887,000 after purchasing an additional 740,641 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Wayfair by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,834,667 shares of the company’s stock valued at $169,952,000 after buying an additional 581,000 shares in the last quarter. Finally, Southpoint Capital Advisors LP raised its stake in shares of Wayfair by 100.0% during the 4th quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company’s stock worth $124,096,000 after buying an additional 1,400,000 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.