BMO Capital Markets Cuts Wayfair (NYSE:W) Price Target to $50.00

Wayfair (NYSE:W) had its price target decreased by research analysts at BMO Capital Markets from $58.00 to $50.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 19.27% from the stock’s previous close.

W has been the subject of a number of other research reports. Stifel Nicolaus decreased their target price on Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday. Robert W. Baird decreased their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Bank of America cut Wayfair from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.36.

Wayfair Price Performance

NYSE:W traded up $1.77 during mid-day trading on Monday, reaching $41.92. The stock had a trading volume of 4,905,426 shares, compared to its average volume of 4,338,859. The business’s 50 day moving average is $48.69 and its 200 day moving average is $52.35. Wayfair has a fifty-two week low of $38.02 and a fifty-two week high of $76.18. The stock has a market cap of $5.18 billion, a P/E ratio of -7.83 and a beta of 3.46.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.27) earnings per share. Equities analysts expect that Wayfair will post -2.68 EPS for the current year.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Kate Gulliver sold 7,330 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the sale, the chief financial officer now directly owns 117,947 shares in the company, valued at approximately $6,257,088.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,471 shares of company stock valued at $1,987,002 over the last ninety days. 26.81% of the stock is owned by company insiders.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. River Global Investors LLP increased its stake in shares of Wayfair by 3.9% in the third quarter. River Global Investors LLP now owns 27,296 shares of the company’s stock valued at $1,534,000 after buying an additional 1,017 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Wayfair in the third quarter worth about $29,000. BloombergSen Inc. increased its position in Wayfair by 54.4% in the third quarter. BloombergSen Inc. now owns 25,617 shares of the company’s stock worth $1,439,000 after purchasing an additional 9,025 shares during the period. Optas LLC acquired a new stake in Wayfair in the third quarter worth about $270,000. Finally, Nisa Investment Advisors LLC increased its position in Wayfair by 801.5% in the third quarter. Nisa Investment Advisors LLC now owns 42,460 shares of the company’s stock worth $2,385,000 after purchasing an additional 37,750 shares during the period. 89.67% of the stock is currently 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.