Wayfair (NYSE:W) Stock Rating Lowered by Wedbush

Wedbush lowered shares of Wayfair (NYSE:W) from an outperform rating to a neutral rating in a report published on Monday, MarketBeat.com reports. The firm currently has $44.00 price objective on the stock, down from their prior price objective of $45.00.

A number of other analysts have also weighed in on W. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Wayfair in a report on Thursday, September 26th. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. UBS Group lowered their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada cut their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Fourteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wayfair presently has an average rating of “Moderate Buy” and a consensus price target of $60.24.

Wayfair Stock Performance

Shares of W opened at $48.34 on Monday. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -10.77 and a beta of 3.43. The stock has a fifty day moving average price of $45.18 and a two-hundred day moving average price of $47.74. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last released its quarterly earnings results 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 period in the prior year, the firm earned ($1.38) earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Wayfair will post -2.91 EPS for the current fiscal year.

Insider Activity

In related news, COO Thomas Netzer sold 1,039 shares of Wayfair stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the transaction, the chief operating officer now owns 171,790 shares in the company, valued at approximately $8,701,163.50. This trade represents a 0.60 % 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, insider Jon Blotner sold 4,600 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 8.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,036 shares of company stock worth $4,551,431 in the last quarter. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several large investors have recently modified their holdings of W. Capital Performance Advisors LLP bought a new position in shares of Wayfair during the third quarter worth approximately $29,000. GAMMA Investing LLC boosted its position in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 281 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wayfair in the third quarter valued at about $44,000. Brooklyn Investment Group acquired a new position in shares of Wayfair in the third quarter valued at about $50,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Wayfair during the third quarter worth about $67,000. 89.67% of the stock is owned by institutional investors.

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.