Wayfair (NYSE:W) Earns Hold Rating from Analysts at SunTrust Banks

SunTrust Banks began coverage on shares of Wayfair (NYSE:W) in a research note issued to investors on Friday morning, AnalystRatings.com reports. The firm issued a hold rating and a $95.00 target price on the stock.

Several other analysts also recently issued reports on W. Needham & Company LLC downgraded Wayfair from a buy rating to a hold rating in a research note on Friday, November 1st. Wolfe Research set a $114.00 price target on Wayfair and gave the company a buy rating in a research note on Friday, November 1st. Argus raised Wayfair from a hold rating to a buy rating and set a $96.00 price target on the stock in a research note on Monday, November 11th. Morgan Stanley began coverage on Wayfair in a research note on Thursday, December 5th. They issued a hold rating on the stock. Finally, Stifel Nicolaus reissued a buy rating and issued a $110.00 price target (down previously from $120.00) on shares of Wayfair in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $131.08.

W stock traded up $1.18 during midday trading on Friday, hitting $89.93. 1,893,222 shares of the company’s stock were exchanged, compared to its average volume of 2,159,214. The stock’s fifty day moving average price is $88.34 and its 200-day moving average price is $119.67. The company has a market cap of $8.20 billion, a PE ratio of -16.03 and a beta of 1.86. Wayfair has a one year low of $78.59 and a one year high of $173.72.

Wayfair (NYSE:W) last posted its earnings results on Thursday, October 31st. The company reported ($2.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.89) by $0.66. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.28 billion. The business’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.28) earnings per share. On average, analysts predict that Wayfair will post -10.59 earnings per share for the current fiscal year.

In other Wayfair news, COO Thomas Netzer sold 4,955 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $73.94, for a total transaction of $366,372.70. Following the transaction, the chief operating officer now owns 6,309 shares of the company’s stock, valued at $466,487.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James R. Miller sold 1,617 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $84.09, for a total value of $135,973.53. Following the transaction, the insider now directly owns 16,076 shares in the company, valued at approximately $1,351,830.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,173 shares of company stock worth $3,571,305. 33.86% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY boosted its holdings in shares of Wayfair by 8.8% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,583 shares of the company’s stock worth $514,000 after acquiring an additional 370 shares during the period. Millennium Management LLC boosted its holdings in shares of Wayfair by 106.6% during the third quarter. Millennium Management LLC now owns 69,861 shares of the company’s stock worth $7,832,000 after acquiring an additional 1,135,461 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Wayfair by 88.1% during the third quarter. Squarepoint Ops LLC now owns 514,273 shares of the company’s stock worth $57,660,000 after acquiring an additional 240,887 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Wayfair by 51.2% during the third quarter. Public Employees Retirement System of Ohio now owns 28,832 shares of the company’s stock worth $3,233,000 after acquiring an additional 9,768 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Wayfair by 2.3% during the third quarter. California State Teachers Retirement System now owns 105,124 shares of the company’s stock worth $11,787,000 after acquiring an additional 2,353 shares during the period. 81.03% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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Analyst Recommendations for Wayfair (NYSE:W)

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