Wayfair (NYSE:W) Given New $50.00 Price Target at Robert W. Baird

Wayfair (NYSE:W) had its target price trimmed by Robert W. Baird from $56.00 to $50.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Argus cut Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Royal Bank of Canada cut their price target on Wayfair from $65.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, Loop Capital lifted their price objective on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Trading Up 2.5 %

W stock traded up $1.06 during trading on Monday, hitting $42.99. The stock had a trading volume of 178,786 shares, compared to its average volume of 4,340,918. Wayfair has a twelve month low of $38.02 and a twelve month high of $76.18. The company’s 50-day moving average price is $48.64 and its two-hundred day moving average price is $52.26.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.38) earnings per share. On average, sell-side analysts anticipate that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the transaction, the chief technology officer now directly owns 84,655 shares of the company’s stock, valued at $4,491,794.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jon Blotner sold 6,055 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.07, for a total value of $321,338.85. Following the sale, the insider now directly owns 62,817 shares in the company, valued at approximately $3,333,698.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Fiona Tan sold 10,040 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the sale, the chief technology officer now owns 84,655 shares in the company, valued at approximately $4,491,794.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,471 shares of company stock worth $1,987,002. 23.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in Wayfair in the third quarter valued at approximately $29,000. ORG Partners LLC acquired a new stake in shares of Wayfair in the 1st quarter valued at $37,000. International Assets Investment Management LLC acquired a new stake in shares of Wayfair in the 2nd quarter valued at $58,000. Comerica Bank lifted its position in shares of Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Wayfair by 39.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after purchasing an additional 471 shares in the last quarter. 89.67% of the stock is owned by institutional investors and hedge funds.

About Wayfair

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.