Wayfair’s (W) Buy Rating Reaffirmed at Guggenheim

Wayfair (NYSE:W)‘s stock had its “buy” rating restated by stock analysts at Guggenheim in a research report issued on Thursday, Benzinga reports. They currently have a $70.00 price objective on the stock. Guggenheim’s price target points to a potential upside of 29.94% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group dropped their price objective on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America lowered Wayfair from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $58.00 in a research note on Thursday, August 1st. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Wedbush decreased their price objective on Wayfair from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Citigroup cut their target price on shares of Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.83.

Wayfair Trading Up 4.3 %

Wayfair stock traded up $2.20 during midday trading on Thursday, hitting $53.87. The stock had a trading volume of 2,109,712 shares, compared to its average volume of 4,268,549. Wayfair has a 52-week low of $38.02 and a 52-week high of $76.18. The company has a market capitalization of $6.65 billion, a PE ratio of -10.05 and a beta of 3.40. The firm’s fifty day moving average is $46.36 and its two-hundred day moving average is $54.68.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the company posted ($1.27) earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts predict that Wayfair will post -2.66 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, 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 sale, the chief operating officer now directly owns 151,802 shares in the company, valued at approximately $7,502,054.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,801 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $50.95, for a total value of $244,610.95. Following the transaction, the insider now directly owns 53,152 shares in the company, valued at $2,708,094.40. The disclosure for this sale can be found here. In the last three months, insiders sold 41,113 shares of company stock valued at $2,126,623. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several large investors have recently added to or reduced their stakes in W. Teachers Retirement System of The State of Kentucky increased its stake in shares of Wayfair by 12.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 126,552 shares of the company’s stock worth $6,673,000 after acquiring an additional 13,832 shares during the period. Truist Financial Corp grew its position in Wayfair by 46.6% during the 2nd quarter. Truist Financial Corp now owns 9,527 shares of the company’s stock worth $502,000 after purchasing an additional 3,028 shares during the period. Quarry LP raised its stake in shares of Wayfair by 880.0% during the 2nd quarter. Quarry LP now owns 2,548 shares of the company’s stock valued at $134,000 after buying an additional 2,288 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Wayfair by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company’s stock valued at $948,000 after buying an additional 1,355 shares during the period. Finally, Maverick Capital Ltd. boosted its stake in shares of Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after buying an additional 227,908 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.