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

Wayfair (NYSE:W) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

W has been the topic of a number of other reports. Loop Capital boosted their target price on shares of Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. Piper Sandler reduced their price target on Wayfair from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Stifel Nicolaus lowered their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, UBS Group cut 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. Thirteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Trading Down 3.7 %

Shares of Wayfair stock traded down $1.70 during trading hours on Thursday, reaching $43.75. 5,444,056 shares of the company’s stock were exchanged, compared to its average volume of 4,416,072. The stock has a market cap of $5.48 billion, a P/E ratio of -9.74 and a beta of 3.44. The company has a 50 day moving average of $46.29 and a two-hundred day moving average of $48.74. Wayfair has a fifty-two week low of $37.35 and a fifty-two week high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company posted ($1.38) earnings per share. As a group, analysts expect that Wayfair will post -2.91 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, COO Thomas Netzer sold 1,039 shares of the company’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 transaction of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the completion of the transaction, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. This trade represents a 10.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,896 shares of company stock valued at $4,869,409. 26.81% of the stock is owned by corporate insiders.

Institutional Trading of Wayfair

Several large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in Wayfair in the third quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair during the 3rd quarter valued at $44,000. Brooklyn Investment Group bought a new stake in Wayfair during the 3rd quarter worth $50,000. International Assets Investment Management LLC bought a new stake in Wayfair during the 2nd quarter worth $58,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Wayfair in the third quarter valued at about $67,000. 89.67% of the stock is owned by institutional investors and hedge funds.

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.