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 note issued to investors on Wednesday.

A number of other equities analysts also recently issued reports on W. Argus downgraded Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Gordon Haskett cut Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research report on Thursday, September 26th. Citigroup dropped their price objective on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Bank of America lowered shares of Wayfair from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $58.00 in a research note on Thursday, August 1st. Thirteen 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Up 0.8 %

Shares of W opened at $38.80 on Wednesday. The business’s fifty day moving average is $48.29 and its 200 day moving average is $51.59. Wayfair has a 12-month low of $37.51 and a 12-month high of $76.18. The stock has a market cap of $4.86 billion, a P/E ratio of -8.75 and a beta of 3.46.

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 analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted ($1.38) earnings per share. On average, analysts expect that Wayfair will post -2.92 EPS for the current year.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 8.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,868 shares of company stock worth $2,003,248. 26.81% of the stock is owned by company insiders.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Wayfair during the 3rd quarter valued at about $29,000. Brooklyn Investment Group purchased a new position in shares of Wayfair during the third quarter worth approximately $50,000. International Assets Investment Management LLC purchased a new position in shares of Wayfair during the second quarter worth approximately $58,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Wayfair in the 3rd quarter worth approximately $67,000. Finally, Comerica Bank boosted its stake 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 purchasing an additional 829 shares in the last quarter. 89.67% of the stock is currently owned by hedge funds and other institutional investors.

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.