Zacks Investment Research upgraded shares of Wayfair (NYSE:W) from a sell rating to a hold rating in a research note issued to investors on Saturday, February 10th.
According to Zacks, “Wayfair is well positioned in the home automation retail market. Its high revenues and strong metrics growth is a big positive. The management remains confident about growth in markets, namely, Canada, U.K. and Germany as the company has made efforts to expand its house-brand offerings in these countries. However, we remain concerned about increasing advertising expenditure and its impact on profitability. Unhealthy competition and high vulnerability to exchange rate volatility also remain concerns. In past 12 months, the stock has outperformed the industry it belongs to.”
W has been the subject of several other research reports. Oppenheimer upped their price target on shares of Wayfair to $105.00 and gave the company an outperform rating in a research report on Friday, February 9th. Gordon Haskett downgraded shares of Wayfair from a buy rating to an accumulate rating in a research report on Wednesday, January 31st. MKM Partners set a $107.00 price target on shares of Wayfair and gave the company a buy rating in a research report on Wednesday, January 24th. Robert W. Baird reduced their price target on shares of Wayfair from $73.00 to $65.00 and set a neutral rating for the company in a research report on Friday, November 3rd. Finally, Citigroup reduced their price target on shares of Wayfair from $80.00 to $66.00 and set a buy rating for the company in a research report on Friday, November 3rd. Fourteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $81.32.
Wayfair (W) traded up $0.76 during mid-day trading on Friday, reaching $97.52. 1,031,066 shares of the company traded hands, compared to its average volume of 1,180,000. Wayfair has a fifty-two week low of $35.36 and a fifty-two week high of $98.73. The firm has a market capitalization of $8,570.00, a price-to-earnings ratio of -39.16 and a beta of 1.05. The company has a current ratio of 1.19, a quick ratio of 1.17 and a debt-to-equity ratio of 135.98.
In other news, CEO Niraj Shah sold 1,213 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $76.35, for a total transaction of $92,612.55. Following the transaction, the chief executive officer now owns 25,414 shares in the company, valued at approximately $1,940,358.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Champlin Mulliken sold 700 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $68.19, for a total transaction of $47,733.00. Following the transaction, the insider now owns 184,738 shares in the company, valued at approximately $12,597,284.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,930 shares of company stock worth $4,855,017. Company insiders own 56.93% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wayfair by 52.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,803 shares of the company’s stock worth $145,000 after purchasing an additional 624 shares during the last quarter. Guggenheim Capital LLC grew its stake in Wayfair by 7.3% in the 4th quarter. Guggenheim Capital LLC now owns 9,629 shares of the company’s stock valued at $773,000 after buying an additional 654 shares during the last quarter. Advisor Group Inc. grew its stake in Wayfair by 19.8% in the 4th quarter. Advisor Group Inc. now owns 4,023 shares of the company’s stock valued at $323,000 after buying an additional 666 shares during the last quarter. Keybank National Association OH grew its stake in Wayfair by 8.7% in the 4th quarter. Keybank National Association OH now owns 8,620 shares of the company’s stock valued at $692,000 after buying an additional 690 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Wayfair by 1.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 51,345 shares of the company’s stock valued at $3,461,000 after buying an additional 800 shares during the last quarter. Institutional investors own 67.16% of the company’s stock.
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Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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