Wayfair (W) Downgraded to Neutral at Bank of America
Bank of America cut shares of Wayfair (NYSE:W) from a buy rating to a neutral rating in a research report report published on Wednesday morning. Bank of America currently has $88.00 target price on the stock.
Several other equities research analysts have also issued reports on the stock. Wedbush restated an outperform rating on shares of Wayfair in a research note on Wednesday, December 27th. Stifel Nicolaus raised their price target on shares of Wayfair from $72.00 to $82.00 and gave the stock a buy rating in a research note on Friday, December 15th. Piper Jaffray Companies restated a buy rating and set a $89.00 price target on shares of Wayfair in a research note on Wednesday, December 13th. Moffett Nathanson initiated coverage on shares of Wayfair in a research note on Monday, December 4th. They issued a buy rating for the company. Finally, Zacks Investment Research lowered shares of Wayfair from a hold rating to a sell rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $76.90.
Wayfair (W) traded up $0.85 during trading on Wednesday, hitting $79.30. 1,202,387 shares of the company’s stock traded hands, compared to its average volume of 1,980,500. Wayfair has a 1 year low of $35.36 and a 1 year high of $84.19. The company has a debt-to-equity ratio of 135.98, a quick ratio of 1.17 and a current ratio of 1.19. The company has a market cap of $6,940.00, a PE ratio of -31.85 and a beta of 0.96.
In other news, insider Edmond Macri sold 796 shares of Wayfair stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $79.87, for a total transaction of $63,576.52. Following the completion of the sale, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $79,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Champlin Mulliken sold 700 shares of Wayfair stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $80.86, for a total transaction of $56,602.00. Following the sale, the insider now directly owns 55,126 shares of the company’s stock, valued at $4,457,488.36. The disclosure for this sale can be found here. Insiders have sold a total of 58,571 shares of company stock valued at $4,229,190 over the last 90 days. Company insiders own 56.93% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of W. Sterling Capital Management LLC bought a new stake in Wayfair in the third quarter worth $1,503,000. DF Dent & Co. Inc. lifted its stake in Wayfair by 19.1% in the third quarter. DF Dent & Co. Inc. now owns 8,391 shares of the company’s stock worth $566,000 after purchasing an additional 1,343 shares during the last quarter. California Public Employees Retirement System lifted its stake in Wayfair by 4.9% in the third quarter. California Public Employees Retirement System now owns 119,341 shares of the company’s stock worth $8,044,000 after purchasing an additional 5,541 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Wayfair by 440.7% in the third quarter. Cubist Systematic Strategies LLC now owns 20,287 shares of the company’s stock worth $1,367,000 after purchasing an additional 16,535 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Wayfair by 78,600.0% in the third quarter. Point72 Asset Management L.P. now owns 14,953 shares of the company’s stock valued at $1,008,000 after acquiring an additional 14,934 shares during the period. 66.73% of the stock is owned by institutional investors.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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