Stifel Nicolaus upgraded shares of Wayfair (NYSE:W) from a hold rating to a buy rating in a research report report published on Wednesday, 24/7 WallStreet reports. They currently have $150.00 price objective on the stock.
“We believe Wayfair’s overall results are complicated by very heavy investment in its international operations overshadowing the beginnings of a positive profit ramp in the U.S. business. In 2019, we forecast U.S. EBITDA margin of -1.1% and International EBITDA margin of -22.4%. For 2020, our margin estimates are +0.5% and -15.1%, respectively. International accounts for approximately 15% of total company revenue.”,” Stifel Nicolaus’ analyst commented.
W has been the subject of a number of other research reports. Piper Jaffray Companies set a $175.00 target price on shares of Wayfair and gave the stock a buy rating in a research report on Friday, July 19th. Credit Suisse Group cut their target price on shares of Wayfair from $195.00 to $165.00 and set an outperform rating for the company in a research report on Tuesday, July 30th. Berenberg Bank started coverage on shares of Wayfair in a research report on Thursday, May 9th. They issued a sell rating and a $121.00 target price for the company. Zacks Investment Research raised shares of Wayfair from a sell rating to a hold rating and set a $131.00 target price for the company in a research report on Friday, August 16th. Finally, Deutsche Bank cut their target price on shares of Wayfair from $175.00 to $160.00 and set a buy rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $155.74.
Wayfair (NYSE:W) last posted its earnings results on Thursday, August 1st. The company reported ($1.35) EPS for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.62. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm posted ($0.77) EPS. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, equities analysts predict that Wayfair will post -9.43 earnings per share for the current year.
In related news, COO Thomas Netzer sold 2,946 shares of Wayfair stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $126.96, for a total transaction of $374,024.16. Following the transaction, the chief operating officer now owns 18,255 shares in the company, valued at approximately $2,317,654.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James R. Miller sold 231 shares of Wayfair stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $126.96, for a total transaction of $29,327.76. Following the transaction, the insider now owns 7,021 shares in the company, valued at approximately $891,386.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,744 shares of company stock valued at $5,340,433. Insiders own 33.86% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. purchased a new stake in Wayfair in the 2nd quarter worth $25,000. PNC Financial Services Group Inc. raised its position in shares of Wayfair by 40.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 294 shares of the company’s stock valued at $45,000 after buying an additional 84 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Wayfair during the 1st quarter valued at about $52,000. Catamount Wealth Management purchased a new stake in shares of Wayfair during the 1st quarter valued at about $74,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Wayfair during the 2nd quarter valued at about $77,000. Institutional investors own 77.21% of the company’s stock.
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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