Wayfair Inc. (NYSE:W) Given Consensus Rating of “Moderate Buy” by Brokerages

Wayfair Inc. (NYSE:W) has been given an average recommendation of “Moderate Buy” by the twenty-seven brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $67.6538.

W has been the topic of several analyst reports. Bank of America raised their target price on Wayfair from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, May 14th. Wall Street Zen raised Wayfair from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Stifel Nicolaus set a $68.00 price objective on Wayfair and gave the company a “hold” rating in a report on Tuesday, August 5th. Needham & Company LLC raised their price objective on Wayfair from $40.00 to $83.00 and gave the company a “buy” rating in a report on Monday, August 4th. Finally, UBS Group raised their price objective on Wayfair from $80.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, August 5th.

Insider Activity at Wayfair

In other Wayfair news, CEO Niraj Shah sold 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $80.07, for a total value of $6,805,950.00. Following the sale, the chief executive officer directly owned 459,137 shares of the company’s stock, valued at approximately $36,763,099.59. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Conine sold 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $80.07, for a total value of $6,805,950.00. Following the completion of the sale, the insider directly owned 459,073 shares in the company, valued at approximately $36,757,975.11. The trade was a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,240,204 shares of company stock worth $81,706,986. 21.91% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

A number of institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. boosted its stake in shares of Wayfair by 681.8% in the first quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after acquiring an additional 4,763,944 shares during the last quarter. Southpoint Capital Advisors LP lifted its position in Wayfair by 42.9% during the first quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after buying an additional 1,200,000 shares in the last quarter. Spruce House Investment Management LLC lifted its position in Wayfair by 37.6% during the second quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock worth $153,420,000 after buying an additional 819,615 shares in the last quarter. Geode Capital Management LLC lifted its position in Wayfair by 3.7% during the second quarter. Geode Capital Management LLC now owns 1,661,496 shares of the company’s stock worth $84,985,000 after buying an additional 59,083 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock worth $79,673,000 after buying an additional 1,033,865 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Stock Performance

Shares of W stock opened at $73.35 on Tuesday. The firm has a market capitalization of $9.51 billion, a PE ratio of -30.56 and a beta of 2.92. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $81.94. The stock’s 50-day simple moving average is $62.78 and its 200-day simple moving average is $45.45.

Wayfair (NYSE:W) last posted its earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. Sell-side analysts forecast that Wayfair will post -2.54 earnings per share for the current year.

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.