Wayfair (NYSE:W) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Wayfair (NYSE:W) from a hold rating to a sell rating in a research note published on Tuesday.

W has been the subject of several other research reports. Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Barclays lowered their price target on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. The Goldman Sachs Group lowered their price target on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. UBS Group lowered their price target on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Price Performance

Shares of NYSE W opened at $38.83 on Tuesday. The company has a 50 day simple moving average of $48.49 and a 200 day simple moving average of $51.92. The firm has a market cap of $4.87 billion, a PE ratio of -8.65 and a beta of 3.46. Wayfair has a 1 year low of $37.60 and a 1 year high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating 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. During the same quarter last year, the business earned ($1.38) EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Activity at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the transaction, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,868 shares of company stock valued at $2,003,248. 26.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently made changes to their positions in W. Capital Performance Advisors LLP bought a new stake in Wayfair in the 3rd quarter valued at about $29,000. ORG Partners LLC bought a new stake in Wayfair in the 1st quarter valued at about $37,000. International Assets Investment Management LLC bought a new stake in Wayfair in the 2nd quarter valued at about $58,000. Comerica Bank raised its stake in Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Wayfair in the 2nd quarter valued at about $109,000. 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.