Wayfair Inc. (NYSE:W) Given Average Recommendation of “Hold” by Brokerages

Wayfair Inc. (NYSE:WGet Rating) has received a consensus recommendation of “Hold” from the twenty-six research firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $149.78.

Several brokerages have recently issued reports on W. Gordon Haskett cut Wayfair from a “hold” rating to a “reduce” rating and set a $60.00 target price on the stock. in a report on Thursday, May 5th. UBS Group reduced their target price on Wayfair from $150.00 to $135.00 and set a “neutral” rating on the stock in a report on Friday, February 25th. StockNews.com began coverage on Wayfair in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Guggenheim reduced their target price on Wayfair from $250.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Finally, DA Davidson dropped their price target on Wayfair from $360.00 to $165.00 in a research report on Friday, February 25th.

NYSE:W opened at $57.33 on Friday. The business’s 50-day simple moving average is $101.67 and its two-hundred day simple moving average is $161.12. The stock has a market cap of $6.02 billion, a PE ratio of -12.54 and a beta of 2.89. Wayfair has a 52 week low of $49.54 and a 52 week high of $339.56.

Wayfair (NYSE:WGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($1.96) EPS for the quarter, beating analysts’ consensus estimates of ($2.43) by $0.47. Wayfair had a negative return on equity of 10.52% and a negative net margin of 3.54%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was down 13.7% on a year-over-year basis. As a group, research analysts forecast that Wayfair will post -10.67 EPS for the current year.

In related news, COO Thomas Netzer sold 288 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $115.77, for a total value of $33,341.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steve Oblak sold 1,050 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $115.80, for a total value of $121,590.00. The disclosure for this sale can be found here. Insiders have sold 11,599 shares of company stock valued at $1,233,647 in the last ninety days. Insiders own 27.04% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Capital World Investors grew its holdings in shares of Wayfair by 195.1% during the third quarter. Capital World Investors now owns 3,290,985 shares of the company’s stock valued at $840,880,000 after buying an additional 2,175,692 shares during the last quarter. Vulcan Value Partners LLC grew its holdings in shares of Wayfair by 30.8% during the fourth quarter. Vulcan Value Partners LLC now owns 3,680,883 shares of the company’s stock valued at $699,258,000 after buying an additional 867,799 shares during the last quarter. Stockbridge Partners LLC purchased a new stake in shares of Wayfair during the third quarter valued at $200,126,000. Ruane Cunniff & Goldfarb L.P. grew its holdings in shares of Wayfair by 32.5% during the fourth quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,154,288 shares of the company’s stock valued at $599,220,000 after buying an additional 773,999 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Wayfair during the fourth quarter valued at $127,897,000. 85.89% of the stock is currently owned by institutional investors and hedge funds.

About Wayfair (Get Rating)

Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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Analyst Recommendations for Wayfair (NYSE:W)

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