Wayfair (W) Reaches New 12-Month High on Analyst Upgrade

Wayfair Inc (NYSE:W)’s share price reached a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from $97.00 to $100.00. Bank of America currently has a neutral rating on the stock. Wayfair traded as high as $98.90 and last traded at $98.84, with a volume of 1037115 shares traded. The stock had previously closed at $97.52.

Other equities analysts also recently issued research reports about the stock. Gordon Haskett downgraded shares of Wayfair from a “buy” rating to an “accumulate” rating in a report on Wednesday, January 31st. Stifel Nicolaus lifted their price objective on shares of Wayfair from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $89.00 price objective on shares of Wayfair in a report on Wednesday, December 13th. Moffett Nathanson started coverage on shares of Wayfair in a report on Monday, December 4th. They issued a “buy” rating for the company. Finally, Citigroup decreased their price objective on shares of Wayfair from $80.00 to $66.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Fourteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $83.32.

In related news, insider Edmond Macri sold 600 shares of Wayfair stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $92.88, for a total transaction of $55,728.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Niraj Shah sold 2,000 shares of Wayfair stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $92.11, for a total transaction of $184,220.00. The disclosure for this sale can be found here. Insiders sold 55,002 shares of company stock worth $4,525,850 over the last quarter. 56.93% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Wayfair by 52.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,803 shares of the company’s stock worth $145,000 after acquiring an additional 624 shares in the last quarter. Delta Asset Management LLC TN raised its position in Wayfair by 375.0% in the third quarter. Delta Asset Management LLC TN now owns 1,900 shares of the company’s stock worth $128,000 after acquiring an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. raised its position in Wayfair by 1,512.5% in the third quarter. Advisors Asset Management Inc. now owns 2,322 shares of the company’s stock worth $157,000 after acquiring an additional 2,178 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Wayfair by 78.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,403 shares of the company’s stock worth $193,000 after acquiring an additional 1,056 shares in the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in Wayfair in the fourth quarter worth about $215,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

The company has a debt-to-equity ratio of 135.98, a current ratio of 1.19 and a quick ratio of 1.17. The stock has a market cap of $8,565.18, a PE ratio of -39.96 and a beta of 1.05.

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About Wayfair

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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