Wayfair (NYSE:W) Rating Increased to Strong-Buy at TD Cowen

Wayfair (NYSE:W - Get Free Report) was upgraded by stock analysts at TD Cowen from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Evercore ISI upped their price target on shares of Wayfair from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Canaccord Genuity Group cut their price target on shares of Wayfair from $68.00 to $58.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft cut shares of Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price target on the stock. in a report on Monday, April 14th. Mizuho cut their price target on shares of Wayfair from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Zelman & Associates assumed coverage on shares of Wayfair in a research note on Thursday, May 15th. They set an "outperform" rating for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.83.

Wayfair Stock Up 1.4%

Shares of W stock opened at $44.91 on Thursday. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of -11.17 and a beta of 2.93. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $62.43. The firm's 50 day moving average price is $32.74 and its two-hundred day moving average price is $39.95.

Wayfair (NYSE:W - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.24. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the firm posted ($0.32) earnings per share. The company's revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts forecast that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven Conine sold 73,095 shares of Wayfair stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $40.40, for a total transaction of $2,953,038.00. Following the transaction, the insider now owns 469,073 shares in the company, valued at $18,950,549.20. The trade was a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kate Gulliver sold 19,296 shares of Wayfair stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the transaction, the chief financial officer now owns 144,474 shares in the company, valued at $4,575,491.58. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,915 shares of company stock worth $9,258,415. 21.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company's stock worth $412,856,000 after purchasing an additional 327,603 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Wayfair by 60.1% in the 4th quarter. Sterling Capital Management LLC now owns 5,636 shares of the company's stock valued at $250,000 after buying an additional 2,116 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Wayfair by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,009,312 shares of the company's stock valued at $44,733,000 after acquiring an additional 35,057 shares during the period. LPL Financial LLC lifted its position in shares of Wayfair by 218.2% during the 4th quarter. LPL Financial LLC now owns 38,486 shares of the company's stock worth $1,706,000 after buying an additional 26,390 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Wayfair during the 4th quarter worth $31,472,000. 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.

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