Wayfair (NYSE:W) Cut to Sell at StockNews.com

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

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group decreased their target price on Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Guggenheim reiterated a “buy” rating and set a $70.00 target price on shares of Wayfair in a report on Thursday, September 26th. Robert W. Baird cut their price objective on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Barclays decreased their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Loop Capital increased their price target on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

NYSE:W opened at $44.03 on Thursday. The stock has a market capitalization of $5.52 billion, a PE ratio of -9.81 and a beta of 3.46. Wayfair has a fifty-two week low of $37.35 and a fifty-two week high of $76.18. The company has a fifty day moving average of $47.86 and a two-hundred day moving average of $50.85.

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

Insider Transactions at Wayfair

In other news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the completion of the sale, the chief technology officer now owns 84,655 shares of the company’s stock, valued at $4,491,794.30. The trade was a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Conine sold 30,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the transaction, the insider now owns 179,073 shares in the company, valued at $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,868 shares of company stock valued at $3,272,548 over the last three months. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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