Wayfair (NYSE:W) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Wayfair (NYSE:W) from a sell rating to a hold rating in a research report report published on Wednesday.

A number of other brokerages also recently weighed in on W. Loop Capital raised their target price on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Argus lowered Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Robert W. Baird lowered their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. Finally, Bank of America downgraded shares of Wayfair from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $58.00 in a research note on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Performance

W opened at $38.49 on Wednesday. The stock has a fifty day moving average of $48.36 and a 200-day moving average of $51.69. The company has a market capitalization of $4.82 billion, a P/E ratio of -8.57 and a beta of 3.46. Wayfair has a fifty-two week low of $37.51 and a fifty-two week high of $76.18.

Wayfair (NYSE:W) last posted 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 business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the prior year, the firm earned ($1.38) EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Wayfair will post -2.92 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Wayfair news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction dated 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 of the company’s stock, valued at approximately $4,491,794.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,868 shares of company stock valued at $2,003,248 over the last ninety days. 26.81% of the stock is owned by company insiders.

Institutional Trading of Wayfair

Institutional investors have recently modified their holdings of the business. Capital World Investors boosted its stake in Wayfair by 0.9% in the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after purchasing an additional 103,369 shares during the period. Vanguard Group Inc. boosted its position in shares of Wayfair by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after acquiring an additional 363,948 shares during the period. Renaissance Technologies LLC grew its stake in Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after acquiring an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP increased its holdings in Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after acquiring an additional 432,404 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Wayfair by 35.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,255 shares of the company’s stock worth $54,734,000 after purchasing an additional 253,681 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.