Wayfair (NYSE:W) Downgraded by StockNews.com to Sell

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

Several other brokerages have also recently commented on W. UBS Group reduced their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their target price on shares of Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. 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 report on Monday, November 4th. Finally, Stifel Nicolaus reduced their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Price Performance

Shares of NYSE:W opened at $38.83 on Tuesday. The firm’s 50 day simple moving average is $48.49 and its 200 day simple moving average is $51.92. Wayfair has a fifty-two week low of $37.60 and a fifty-two week high of $76.18. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -8.65 and a beta of 3.46.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.38) EPS. Equities research analysts expect that Wayfair will post -2.68 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the transaction, the insider now directly owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Wayfair news, COO Thomas Netzer sold 8,435 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $447,561.10. Following the sale, the chief operating officer now directly owns 179,180 shares in the company, valued at $9,507,290.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon Blotner sold 4,600 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,868 shares of company stock valued at $2,003,248. 26.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently made changes to their positions in the stock. WealthPlan Investment Management LLC boosted its stake 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 purchasing an additional 271 shares in the last quarter. Creative Planning boosted its stake in shares of Wayfair by 2.1% in the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock valued at $745,000 after purchasing an additional 272 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Wayfair by 12.0% in the 1st quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock valued at $252,000 after purchasing an additional 399 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Wayfair by 39.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after buying an additional 471 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Wayfair in the 3rd quarter valued at approximately $29,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.