Wayfair (NYSE:W) Raised to “Hold” at StockNews.com

Wayfair (NYSE:W) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

W has been the topic of a number of other research reports. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Truist Financial dropped their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Loop Capital increased their price target on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, Wedbush cut their price objective on Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Thirteen investment analysts have rated the stock with a hold rating, thirteen 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 has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Up 3.8 %

Shares of NYSE W opened at $39.19 on Wednesday. The company has a 50 day moving average of $48.40 and a 200 day moving average of $51.78. Wayfair has a twelve month low of $37.51 and a twelve month high of $76.18. The firm has a market cap of $4.91 billion, a P/E ratio of -8.73 and a beta of 3.46.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the firm earned ($1.38) EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts expect that Wayfair will post -2.92 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

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

Institutional Trading of Wayfair

Several hedge funds have recently bought and sold shares of W. Capital Performance Advisors LLP purchased a new stake in shares of Wayfair during the 3rd quarter worth approximately $29,000. International Assets Investment Management LLC bought a new stake in Wayfair in the second quarter worth $58,000. Comerica Bank raised its stake in Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after purchasing an additional 829 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in Wayfair during the second quarter valued at $109,000. Finally, Quarry LP grew its stake in shares of Wayfair by 880.0% in the 2nd quarter. Quarry LP now owns 2,548 shares of the company’s stock worth $134,000 after buying an additional 2,288 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.