StockNews.com Lowers Wayfair (NYSE:W) to Sell

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

Several other brokerages also recently commented on W. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Wayfair from $63.00 to $79.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Mizuho started coverage on shares of Wayfair in a research report on Tuesday, March 19th. They set a buy rating and a $72.00 price objective for the company. TD Cowen increased their price objective on shares of Wayfair from $55.00 to $58.00 and gave the stock a hold rating in a research report on Friday, May 3rd. Wedbush restated an outperform rating and issued a $70.00 price target on shares of Wayfair in a report on Friday, May 3rd. Finally, BMO Capital Markets raised their price target on shares of Wayfair from $57.00 to $61.00 and gave the stock a market perform rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $78.50.

Wayfair Stock Down 2.4 %

Shares of NYSE:W opened at $49.76 on Friday. The firm has a market cap of $5.99 billion, a PE ratio of -9.28 and a beta of 3.39. The company’s 50 day moving average price is $59.05 and its two-hundred day moving average price is $58.62. Wayfair has a 12-month low of $38.37 and a 12-month high of $90.71.

Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.11. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. On average, research analysts expect that Wayfair will post -2.94 EPS for the current year.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 3,022 shares of Wayfair stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $64.94, for a total value of $196,248.68. Following the sale, the insider now owns 42,101 shares of the company’s stock, valued at $2,734,038.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Steven Conine sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the sale, the insider now owns 219,073 shares of the company’s stock, valued at $12,441,155.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jon Blotner sold 3,022 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $64.94, for a total transaction of $196,248.68. Following the completion of the sale, the insider now directly owns 42,101 shares in the company, valued at approximately $2,734,038.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,680 shares of company stock valued at $4,164,783. Company insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors grew its stake in Wayfair by 0.9% during the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock valued at $824,442,000 after acquiring an additional 103,369 shares in the last quarter. Vanguard Group Inc. grew its stake in Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares in the last quarter. Atreides Management LP grew its stake in Wayfair by 1.8% during the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock valued at $58,826,000 after acquiring an additional 16,932 shares in the last quarter. Norges Bank purchased a new position in Wayfair during the fourth quarter valued at approximately $47,374,000. Finally, Wellington Management Group LLP grew its stake in Wayfair by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock valued at $47,169,000 after acquiring an additional 119,873 shares in the last quarter. 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.