Wayfair Inc. (NYSE:W) Receives Average Recommendation of “Moderate Buy” from Brokerages

Wayfair Inc. (NYSE:W) has earned an average rating of “Moderate Buy” from the twenty-six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $54.84.

A number of equities research analysts have recently weighed in on W shares. Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and boosted their target price for the company from $45.00 to $47.00 in a research note on Friday, March 7th. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Bank of America decreased their target price on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. JPMorgan Chase & Co. cut their price target on shares of Wayfair from $63.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Citigroup downgraded shares of Wayfair from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $58.00 to $28.00 in a research note on Friday.

Wayfair Stock Performance

W stock opened at $25.95 on Friday. The company has a market capitalization of $3.29 billion, a PE ratio of -6.46 and a beta of 3.72. Wayfair has a one year low of $20.41 and a one year high of $76.18. The company’s 50 day moving average price is $39.50 and its two-hundred day moving average price is $44.72.

Wayfair (NYSE:W) last issued its earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, research analysts predict that Wayfair will post -2.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the sale, the insider now directly owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. This represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Blotner sold 4,521 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $46.88, for a total transaction of $211,944.48. Following the sale, the insider now owns 63,568 shares of the company’s stock, valued at approximately $2,980,067.84. This represents a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,388 shares of company stock worth $5,930,556. 26.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of Wayfair by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock valued at $3,860,000 after purchasing an additional 383 shares in the last quarter. Employees Retirement System of Texas lifted its stake in Wayfair by 28.5% during the 4th quarter. Employees Retirement System of Texas now owns 35,270 shares of the company’s stock valued at $1,563,000 after acquiring an additional 7,813 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in shares of Wayfair by 142.3% during the 4th quarter. Polar Asset Management Partners Inc. now owns 151,653 shares of the company’s stock valued at $6,721,000 after acquiring an additional 89,053 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Wayfair in the fourth quarter worth approximately $1,536,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Wayfair during the fourth quarter valued at approximately $3,560,000. 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.