Wayfair (NYSE:W) Stock Rating Lowered by StockNews.com

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

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday, November 4th. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. UBS Group dropped their price objective on Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Barclays cut their target price on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, Robert W. Baird lowered their price target on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Trading Up 3.3 %

W opened at $44.03 on Thursday. The stock’s 50-day moving average price is $47.86 and its 200 day moving average price is $50.72. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of -9.81 and a beta of 3.46.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. Wayfair’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.38) earnings per share. On average, research analysts forecast that Wayfair will post -2.92 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of 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 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at approximately $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 have sold a total of 67,868 shares of company stock worth $3,272,548 in the last quarter. Company insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Southpoint Capital Advisors LP purchased a new stake in shares of Wayfair in the third quarter valued at $78,652,000. Holocene Advisors LP boosted its stake in Wayfair by 5,699.8% in the 3rd quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock worth $69,393,000 after buying an additional 1,213,896 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after buying an additional 675,271 shares during the period. Groupama Asset Managment increased its stake in shares of Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Wolf Hill Capital Management LP lifted its holdings in shares of Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after acquiring an additional 432,404 shares during the period. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.