UBS Group Has Lowered Expectations for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its price objective cut by UBS Group from $60.00 to $55.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft lowered Wayfair from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Monday. Royal Bank of Canada lowered their target price on Wayfair from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. Stifel Nicolaus dropped their price objective on shares of Wayfair from $47.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. BMO Capital Markets upped their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, February 21st. Finally, Jefferies Financial Group raised Wayfair from a “hold” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $47.00 in a research report on Friday, March 7th. Sixteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $52.92.

Wayfair Stock Performance

Shares of W stock opened at $27.14 on Monday. The firm has a market capitalization of $3.44 billion, a PE ratio of -6.75 and a beta of 3.72. Wayfair has a 1 year low of $20.41 and a 1 year high of $76.18. The stock has a fifty day moving average of $36.06 and a two-hundred day moving average of $43.19.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates 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. Equities research analysts predict that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 19,296 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $611,104.32. Following the transaction, the chief financial officer now directly owns 144,474 shares in the company, valued at $4,575,491.58. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the sale, the insider now directly owns 589,073 shares of the company’s stock, valued at $28,540,586.85. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,863 shares of company stock valued at $4,847,429 in the last ninety days. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in W. Vanguard Group Inc. increased its stake in Wayfair by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,315,337 shares of the company’s stock worth $412,856,000 after purchasing an additional 327,603 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Wayfair during the 4th quarter worth about $6,799,000. Nisa Investment Advisors LLC raised its stake in shares of Wayfair by 5.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 44,710 shares of the company’s stock valued at $1,982,000 after purchasing an additional 2,250 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Wayfair in the 4th quarter valued at about $229,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Wayfair by 277.4% in the fourth quarter. SG Americas Securities LLC now owns 12,591 shares of the company’s stock valued at $558,000 after purchasing an additional 9,255 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

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.