Wayfair (NYSE:W) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Wayfair (NYSE:W) from a sell rating to a hold rating in a research report report published on Thursday.

Other equities research analysts also recently issued reports about the stock. Truist Financial dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus decreased their target price 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, Guggenheim restated a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

Shares of NYSE W opened at $45.72 on Thursday. The business has a 50-day simple moving average of $46.12 and a two-hundred day simple moving average of $48.60. The company has a market cap of $5.73 billion, a PE ratio of -10.18 and a beta of 3.44. Wayfair has a fifty-two week low of $37.35 and a fifty-two week high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The company 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 company posted ($1.38) EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that Wayfair will post -2.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $53.14, for a total value of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the completion of the sale, the chief operating officer now directly owns 171,790 shares in the company, valued at $8,701,163.50. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,896 shares of company stock worth $4,869,409 in the last quarter. 26.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Wayfair in the third quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Wayfair during the 3rd quarter worth $44,000. Brooklyn Investment Group bought a new position in Wayfair in the third quarter valued at about $50,000. International Assets Investment Management LLC bought a new stake in shares of Wayfair during the 2nd quarter valued at $58,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Wayfair in the 3rd quarter valued at approximately $67,000. 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.