Wayfair (NYSE:W) Lowered to “Sell” at StockNews.com

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

A number of other analysts also recently commented on the company. Needham & Company LLC reiterated a buy rating and set a $75.00 target price on shares of Wayfair in a research report on Thursday, May 16th. Morgan Stanley increased their target price on Wayfair from $85.00 to $90.00 and gave the stock an overweight rating in a report on Monday, May 13th. BMO Capital Markets increased their price target on Wayfair from $57.00 to $61.00 and gave the stock a market perform rating in a research report on Friday, May 3rd. Wedbush reaffirmed an outperform rating and set a $70.00 target price on shares of Wayfair in a research note on Friday, May 3rd. Finally, Evercore ISI upgraded Wayfair from an in-line rating to an outperform rating and lifted their target price for the stock from $65.00 to $80.00 in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $78.50.

Wayfair Stock Performance

Shares of W opened at $52.25 on Friday. The stock has a 50-day simple moving average of $59.27 and a 200-day simple moving average of $58.67. The stock has a market capitalization of $6.29 billion, a PE ratio of -9.75 and a beta of 3.39. Wayfair has a 1 year low of $38.37 and a 1 year high of $90.71.

Wayfair (NYSE:W) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.38) 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. Analysts predict that Wayfair will post -2.94 EPS for the current year.

Insider Activity at Wayfair

In other news, insider Jon Blotner sold 3,282 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total value of $207,094.20. Following the sale, the insider now directly owns 48,322 shares in the company, valued at approximately $3,049,118.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jon Blotner sold 3,282 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $63.10, for a total transaction of $207,094.20. Following the sale, the insider now directly owns 48,322 shares in the company, valued at approximately $3,049,118.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kate Gulliver sold 3,696 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $63.09, for a total value of $233,180.64. Following the transaction, the chief financial officer now directly owns 89,555 shares in the company, valued at approximately $5,650,024.95. The disclosure for this sale can be found here. Insiders have sold 65,680 shares of company stock worth $4,164,783 over the last three months. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Large investors have recently added to or reduced their stakes in the company. Boston Partners bought a new position in shares of Wayfair in the 1st quarter valued at about $769,000. Virtu Financial LLC bought a new position in shares of Wayfair in the 1st quarter valued at about $1,548,000. WealthPlan Investment Management LLC grew its holdings in shares of Wayfair by 5.6% in the 1st quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock valued at $346,000 after acquiring an additional 271 shares in the last quarter. Comerica Bank grew its holdings in shares of Wayfair by 210.9% in the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after acquiring an additional 829 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Wayfair in the 1st quarter valued at about $3,172,000. 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.