Wayfair (NYSE:W) Given New $55.00 Price Target at Loop Capital

Wayfair (NYSE:W - Free Report) had its target price hoisted by Loop Capital from $50.00 to $55.00 in a research report released on Monday,Benzinga reports. They currently have a hold rating on the stock.

W has been the subject of a number of other reports. Citigroup lowered their price objective on Wayfair from $70.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Robert W. Baird lowered their price target on shares of Wayfair from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Stifel Nicolaus cut their price objective on shares of Wayfair from $55.00 to $47.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. BMO Capital Markets decreased their target price on shares of Wayfair from $58.00 to $50.00 and set a "market perform" rating for the company in a research report on Monday, November 4th. Finally, UBS Group dropped their price target on shares of Wayfair from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.28.

Wayfair Stock Performance

Shares of Wayfair stock traded down $1.73 during trading hours on Monday, reaching $50.56. The company's stock had a trading volume of 4,109,759 shares, compared to its average volume of 4,411,784. Wayfair has a one year low of $37.35 and a one year high of $76.18. The company's 50 day simple moving average is $46.93 and its 200 day simple moving average is $48.92. The stock has a market cap of $6.34 billion, a P/E ratio of -11.50 and a beta of 3.44.

Wayfair (NYSE:W - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The business's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned ($1.38) EPS. On average, sell-side analysts predict that Wayfair will post -2.91 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the transaction, the insider now owns 179,073 shares in the company, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the stock in a transaction dated Tuesday, September 17th. The stock was 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 directly owns 151,802 shares of the company's stock, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,868 shares of company stock valued at $4,866,748 in the last three months. 26.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in W. Comerica Bank lifted its holdings in shares of Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company's stock valued at $83,000 after buying an additional 829 shares during the last quarter. Lecap Asset Management Ltd. increased its position in Wayfair by 63.2% during the second quarter. Lecap Asset Management Ltd. now owns 23,910 shares of the company's stock worth $1,261,000 after buying an additional 9,261 shares during the last quarter. Bank of New York Mellon Corp increased its position in Wayfair by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 290,512 shares of the company's stock worth $15,319,000 after buying an additional 31,576 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Wayfair by 23.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 636,233 shares of the company's stock valued at $33,549,000 after buying an additional 121,792 shares in the last quarter. Finally, My Personal CFO LLC acquired a new stake in shares of Wayfair in the second quarter worth about $1,201,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

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.