Wayfair (NYSE:W) Downgraded by Argus to Hold

Argus downgraded shares of Wayfair (NYSE:W) from a buy rating to a hold rating in a report published on Monday, MarketBeat reports.

A number of other brokerages have also commented on W. Wedbush lowered their price objective on Wayfair from $70.00 to $60.00 and set an outperform rating on the stock in a report on Friday, August 2nd. Sanford C. Bernstein lifted their price target on shares of Wayfair from $50.00 to $55.00 and gave the company a market perform rating in a research report on Friday, May 3rd. TD Cowen boosted their price objective on shares of Wayfair from $55.00 to $58.00 and gave the stock a hold rating in a research note on Friday, May 3rd. Needham & Company LLC reiterated a buy rating and issued a $75.00 target price on shares of Wayfair in a research note on Thursday, May 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Wayfair from $87.00 to $70.00 and set a buy rating for the company in a research report on Friday, August 2nd. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $65.63.

Wayfair Stock Down 2.4 %

Shares of NYSE:W opened at $44.47 on Monday. The firm has a fifty day moving average of $49.12 and a two-hundred day moving average of $56.06. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The firm has a market capitalization of $5.35 billion, a P/E ratio of -8.30 and a beta of 3.43.

Wayfair (NYSE:W) last issued its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. Wayfair’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.27) earnings per share. Equities research analysts expect that Wayfair will post -2.8 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, CTO Fiona Tan sold 8,036 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total value of $406,943.04. Following the transaction, the chief technology officer now directly owns 64,074 shares in the company, valued at approximately $3,244,707.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Thomas Netzer sold 6,625 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.74, for a total value of $336,152.50. Following the transaction, the chief operating officer now directly owns 157,239 shares in the company, valued at $7,978,306.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Fiona Tan sold 8,036 shares of Wayfair stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $50.64, for a total transaction of $406,943.04. Following the sale, the chief technology officer now directly owns 64,074 shares of the company’s stock, valued at approximately $3,244,707.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,102 shares of company stock worth $2,644,559. Corporate insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in Wayfair by 8,977.8% in the fourth quarter. International Assets Investment Management LLC now owns 67,993 shares of the company’s stock valued at $4,195,000 after acquiring an additional 67,244 shares during the period. Handelsbanken Fonder AB increased its stake in Wayfair by 5.6% during the 4th quarter. Handelsbanken Fonder AB now owns 17,100 shares of the company’s stock worth $1,055,000 after purchasing an additional 900 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Wayfair during the 4th quarter worth approximately $31,000. Truist Financial Corp bought a new position in Wayfair in the fourth quarter valued at approximately $504,000. Finally, Magnus Financial Group LLC acquired a new position in shares of Wayfair in the fourth quarter valued at approximately $200,000. 89.67% of the stock is owned by 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.