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

Wayfair (NYSE:W) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price objective on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada cut their price target on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. UBS Group lowered their price target on Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Truist Financial dropped their price objective on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Robert W. Baird reduced their target price on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Price Performance

NYSE W opened at $42.39 on Thursday. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -9.44 and a beta of 3.46. The company has a 50 day simple moving average of $48.02 and a 200-day simple moving average of $51.14. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18.

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

Insider Activity

In other news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the sale, the chief technology officer now owns 84,655 shares in the company, valued at approximately $4,491,794.30. This represents a 10.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,868 shares of company stock valued at $2,003,248. 23.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wayfair

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

About Wayfair

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.