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

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

Several other equities analysts have also recently weighed in on the stock. Piper Sandler dropped their price target on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Loop Capital lifted their target price on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Stifel Nicolaus lowered their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, BMO Capital Markets dropped their price target on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Price Performance

Shares of NYSE:W opened at $43.28 on Thursday. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18. The business’s 50-day moving average is $47.93 and its 200-day moving average is $51.02. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -9.51 and a beta of 3.46.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping 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. During the same period last year, the company posted ($1.38) earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Wayfair will post -2.92 EPS for the current year.

Insider Buying and Selling

In other news, insider Jon Blotner sold 6,055 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.07, for a total value of $321,338.85. Following the completion of the transaction, the insider now directly owns 62,817 shares in the company, valued at approximately $3,333,698.19. This represents a 8.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas Netzer sold 1,011 shares of the company’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 completion of the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,868 shares of company stock worth $2,003,248. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Several hedge funds and other institutional investors have recently bought and sold shares of W. Southpoint Capital Advisors LP purchased a new stake in Wayfair in the 3rd quarter worth approximately $78,652,000. Holocene Advisors LP increased its position in shares of Wayfair by 5,699.8% during the third quarter. Holocene Advisors LP now owns 1,235,193 shares of the company’s stock valued at $69,393,000 after buying an additional 1,213,896 shares during the period. Renaissance Technologies LLC raised its stake in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after buying an additional 675,271 shares in the last quarter. Groupama Asset Managment lifted its holdings in Wayfair by 100.0% in the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after buying an additional 500,000 shares during the period. Finally, Wolf Hill Capital Management LP boosted its position 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 valued at $122,487,000 after acquiring an additional 432,404 shares in the last quarter. Institutional investors 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.