Wayfair (W) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Wayfair (NYSE:W) from a sell rating to a hold rating in a report issued on Saturday morning.

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.”

Several other research firms have also recently commented on W. Credit Suisse Group lowered their target price on Wayfair from $78.00 to $69.00 and set a neutral rating on the stock in a research report on Friday, November 3rd. Cowen restated a buy rating and issued a $72.00 target price (down from $82.00) on shares of Wayfair in a research report on Wednesday, November 1st. Robert W. Baird restated a hold rating and issued a $73.00 target price on shares of Wayfair in a research report on Thursday, September 28th. Wedbush lowered their target price on Wayfair from $82.00 to $72.00 and set an outperform rating on the stock in a research report on Friday, November 3rd. Finally, Citigroup lowered their target price on Wayfair from $80.00 to $66.00 and set a buy rating on the stock in a research report on Friday, November 3rd. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $77.64.

Shares of Wayfair (NYSE:W) opened at $81.25 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.17 and a debt-to-equity ratio of 135.98. The firm has a market capitalization of $7,140.00, a P/E ratio of -32.63 and a beta of 0.96. Wayfair has a 1 year low of $35.36 and a 1 year high of $84.19.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.03. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Wayfair had a negative return on equity of 658.45% and a negative net margin of 5.06%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.54) EPS. research analysts predict that Wayfair will post -2.64 earnings per share for the current fiscal year.

In other news, insider John Champlin Mulliken sold 1,673 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $69.17, for a total transaction of $115,721.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edmond Macri sold 1,571 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $70.03, for a total value of $110,017.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,671 shares of company stock worth $4,169,082. 56.93% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in W. Sterling Capital Management LLC acquired a new stake in shares of Wayfair in the third quarter worth $1,503,000. DF Dent & Co. Inc. boosted its position in shares of Wayfair by 19.1% in the third quarter. DF Dent & Co. Inc. now owns 8,391 shares of the company’s stock worth $566,000 after buying an additional 1,343 shares during the period. California Public Employees Retirement System boosted its position in shares of Wayfair by 4.9% in the third quarter. California Public Employees Retirement System now owns 119,341 shares of the company’s stock worth $8,044,000 after buying an additional 5,541 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Wayfair by 440.7% in the third quarter. Cubist Systematic Strategies LLC now owns 20,287 shares of the company’s stock worth $1,367,000 after buying an additional 16,535 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Wayfair by 78,600.0% in the third quarter. Point72 Asset Management L.P. now owns 14,953 shares of the company’s stock worth $1,008,000 after buying an additional 14,934 shares during the period. 66.73% of the stock is owned by institutional investors and hedge funds.

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Wayfair Company Profile

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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