Wayfair (NYSE:W) Cut to Sell at StockNews.com

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

Several other research firms also recently weighed in on W. Guggenheim restated a “buy” rating and issued a $70.00 price objective on shares of Wayfair in a report on Thursday, September 26th. Stifel Nicolaus decreased their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a report on Monday. Loop Capital lifted their price objective on Wayfair from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Royal Bank of Canada reduced their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday. Finally, Raymond James reduced their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wayfair currently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Trading Down 1.6 %

W stock opened at $39.78 on Tuesday. The business’s fifty day simple moving average is $48.57 and its two-hundred day simple moving average is $52.03. Wayfair has a twelve month low of $37.60 and a twelve month high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.38) EPS. Analysts forecast that Wayfair will post -2.68 EPS for the current year.

Insider Transactions at Wayfair

In related news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction 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 transaction, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction 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 in the company, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 4,600 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total value of $246,560.00. Following the transaction, the insider now owns 52,078 shares of the company’s stock, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,868 shares of company stock valued at $2,003,248 in the last three months. 26.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP grew its stake 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 buying an additional 432,404 shares during the last quarter. Vanguard Group Inc. grew its stake in Wayfair by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after buying an additional 363,948 shares during the last quarter. Maverick Capital Ltd. grew its stake in Wayfair by 46.2% during the 2nd quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock worth $38,051,000 after buying an additional 227,908 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in shares of Wayfair in the 1st quarter valued at approximately $13,690,000. 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.