Berenberg Bank assumed coverage on shares of Wayfair in a research note released on Thursday, May 9th, BenzingaRatingsTable reports. The brokerage issued a sell rating and a $121.00 price objective on the stock.
Several other equities analysts have also recently issued reports on W. Credit Suisse Group upgraded Wayfair from a neutral rating to an outperform rating and lifted their price target for the company from $117.00 to $130.00 in a research report on Monday, January 28th. Deutsche Bank assumed coverage on Wayfair in a research report on Tuesday, January 29th. They set a buy rating and a $124.00 price target on the stock. Oppenheimer lifted their target price on Wayfair from $120.00 to $140.00 and gave the stock an outperform rating in a report on Friday, February 8th. Zacks Investment Research cut Wayfair from a buy rating to a hold rating in a report on Monday, February 11th. Finally, Loop Capital lifted their target price on Wayfair from $145.00 to $155.00 and gave the stock a positive rating in a report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. Wayfair currently has a consensus rating of Hold and an average target price of $151.73.
Wayfair stock traded down $0.49 during mid-day trading on Thursday, hitting $144.01. 692,784 shares of the company’s stock traded hands, compared to its average volume of 1,279,442. The company has a market capitalization of $13.24 billion, a P/E ratio of -25.67 and a beta of 2.02. Wayfair has a one year low of $76.60 and a one year high of $173.72.
Wayfair last announced its earnings results on Thursday, May 2nd. The company reported ($1.62) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.02). The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Wayfair’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.91) earnings per share. Equities research analysts predict that Wayfair will post -8.34 earnings per share for the current year.
In related news, CEO Niraj Shah sold 31,000 shares of Wayfair stock in a transaction on Monday, March 11th. The stock was sold at an average price of $168.82, for a total transaction of $5,233,420.00. Following the completion of the sale, the chief executive officer now owns 120,480 shares of the company’s stock, valued at $20,339,433.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Edmond Macri sold 300 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $144.42, for a total value of $43,326.00. Following the completion of the sale, the insider now directly owns 950 shares of the company’s stock, valued at approximately $137,199. The disclosure for this sale can be found here. In the last three months, insiders have sold 312,960 shares of company stock valued at $48,840,771. Insiders own 33.86% of the company’s stock.
Several large investors have recently made changes to their positions in W. PNC Financial Services Group Inc. increased its stake in shares of Wayfair by 40.0% in the first quarter. PNC Financial Services Group Inc. now owns 294 shares of the company’s stock worth $45,000 after purchasing an additional 84 shares during the period. Investors Research Corp bought a new position in shares of Wayfair in the first quarter worth about $52,000. LS Investment Advisors LLC bought a new position in shares of Wayfair in the fourth quarter worth about $60,000. Catamount Wealth Management bought a new position in shares of Wayfair in the first quarter worth about $74,000. Finally, Strs Ohio bought a new position in shares of Wayfair in the first quarter worth about $102,000. 80.28% of the stock is owned by institutional investors.
Date: June 06, 2019
Source: MayField Recorder