Wedbush Reaffirms “Neutral” Rating for Wayfair (NYSE:W)

Wayfair (NYSE:W)‘s stock had its “neutral” rating reiterated by equities researchers at Wedbush in a research report issued to clients and investors on Friday,RTT News reports. They currently have a $46.00 target price on the stock, up from their prior target price of $44.00. Wedbush’s price objective would suggest a potential upside of 9.75% from the company’s previous close.

Several other brokerages also recently commented on W. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Wayfair in a research note on Friday. Royal Bank of Canada reduced their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Citigroup reduced their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, Canaccord Genuity Group reduced their price target on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Friday. Fourteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.40.

Wayfair Stock Down 9.0 %

NYSE:W opened at $41.92 on Friday. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -10.43 and a beta of 3.43. Wayfair has a twelve month low of $37.35 and a twelve month high of $76.18. The stock’s 50 day moving average price is $46.22 and its two-hundred day moving average price is $46.51.

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

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 5,669 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the transaction, the insider now owns 57,899 shares of the company’s stock, valued at $2,479,814.17. This represents a 8.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 559,073 shares of the company’s stock, valued at approximately $25,901,852.09. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,228 shares of company stock valued at $7,830,018. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently bought and sold shares of W. J.Safra Asset Management Corp boosted its position in shares of Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Creative Planning grew its stake in Wayfair by 2.1% in the third quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after acquiring an additional 272 shares during the period. GAMMA Investing LLC grew its stake in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the period. True Wealth Design LLC grew its stake in Wayfair by 207.1% in the fourth quarter. True Wealth Design LLC now owns 565 shares of the company’s stock valued at $25,000 after acquiring an additional 381 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after acquiring an additional 502 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.