Wayfair (NYSE:W) PT Lowered to $61.00 at Royal Bank of Canada

Wayfair (NYSE:W) had its price objective lowered by Royal Bank of Canada from $62.00 to $61.00 in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm currently has a sector perform rating on the stock.

Several other research firms have also commented on W. Raymond James upgraded shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target on the stock in a research report on Friday, February 16th. Canaccord Genuity Group restated a buy rating and set a $80.00 target price on shares of Wayfair in a research report on Friday, February 23rd. Evercore ISI upgraded shares of Wayfair from an in-line rating to an outperform rating and raised their target price for the stock from $65.00 to $80.00 in a research report on Thursday, April 4th. BMO Capital Markets started coverage on shares of Wayfair in a research report on Tuesday, January 9th. They set a market perform rating and a $57.00 target price on the stock. Finally, Needham & Company LLC restated a buy rating and set a $75.00 target price on shares of Wayfair in a research report on Thursday, February 22nd. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wayfair currently has an average rating of Moderate Buy and a consensus target price of $76.21.

Wayfair Price Performance

W stock opened at $52.02 on Wednesday. The company’s 50 day simple moving average is $59.59 and its 200-day simple moving average is $55.03. The firm has a market capitalization of $6.26 billion, a PE ratio of -7.98 and a beta of 3.29. Wayfair has a 12 month low of $29.51 and a 12 month high of $90.71.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. As a group, sell-side analysts anticipate that Wayfair will post -3.37 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total value of $1,194,400.00. Following the sale, the chief operating officer now owns 116,622 shares in the company, valued at approximately $6,964,665.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jon Blotner sold 3,492 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total transaction of $175,787.28. Following the completion of the sale, the insider now owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Thomas Netzer sold 20,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the sale, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The disclosure for this sale can be found here. Insiders have sold 89,808 shares of company stock valued at $5,445,222 in the last quarter. Company insiders own 26.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Riverview Trust Co bought a new position in Wayfair in the 1st quarter worth about $27,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wayfair in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new stake in Wayfair during the fourth quarter valued at approximately $31,000. BluePath Capital Management LLC acquired a new stake in Wayfair during the third quarter valued at approximately $34,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Wayfair during the third quarter valued at approximately $34,000. 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.