UBS Group Lowers Wayfair (NYSE:W) Price Target to $55.00

Wayfair (NYSE:W - Free Report) had its target price reduced by UBS Group from $60.00 to $55.00 in a research report report published on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

W has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered shares of Wayfair from a "buy" rating to a "hold" rating and set a $25.00 price target for the company. in a research report on Monday, April 14th. Royal Bank of Canada lowered their price target on Wayfair from $50.00 to $43.00 and set a "sector perform" rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on Wayfair from $63.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Bank of America lowered their target price on shares of Wayfair from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Finally, Wedbush reissued a "neutral" rating and issued a $46.00 price target (up previously from $44.00) on shares of Wayfair in a report on Friday, February 21st. Sixteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wayfair presently has a consensus rating of "Hold" and an average price target of $52.92.

Wayfair Stock Up 5.7 %

Wayfair stock traded up $1.44 during mid-day trading on Monday, reaching $26.58. 5,371,340 shares of the company's stock were exchanged, compared to its average volume of 4,622,471. The business's fifty day simple moving average is $34.55 and its 200 day simple moving average is $42.56. Wayfair has a one year low of $20.41 and a one year high of $76.18. The firm has a market capitalization of $3.37 billion, a PE ratio of -6.61 and a beta of 3.72.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.01). The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, sell-side analysts forecast that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, insider Jon Blotner sold 19,257 shares of Wayfair stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total transaction of $610,061.76. Following the completion of the transaction, the insider now owns 78,308 shares in the company, valued at approximately $2,480,797.44. The trade was a 19.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Fiona Tan sold 23,835 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the sale, the chief technology officer now directly owns 111,128 shares in the company, valued at approximately $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,863 shares of company stock valued at $4,847,429 over the last three months. Corporate insiders own 21.91% of the company's stock.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the company. Southpoint Capital Advisors LP increased its position in shares of Wayfair by 100.0% during the fourth quarter. Southpoint Capital Advisors LP now owns 2,800,000 shares of the company's stock valued at $124,096,000 after acquiring an additional 1,400,000 shares in the last quarter. Capital World Investors lifted its position in Wayfair by 6.2% in the 4th quarter. Capital World Investors now owns 13,506,200 shares of the company's stock valued at $598,596,000 after acquiring an additional 782,757 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Wayfair by 13.6% in the 4th quarter. Baillie Gifford & Co. now owns 6,179,761 shares of the company's stock worth $273,887,000 after purchasing an additional 740,641 shares in the last quarter. Norges Bank purchased a new position in shares of Wayfair in the fourth quarter worth $31,472,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Wayfair in the fourth quarter worth $30,735,000. 89.67% of the stock is currently owned by institutional investors.

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.