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

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

W has been the topic of several other research reports. Stifel Nicolaus cut their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Wedbush reduced their price target on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Argus lowered shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. BMO Capital Markets reduced their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Wayfair in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Price Performance

Shares of W stock opened at $54.93 on Monday. Wayfair has a one year low of $37.35 and a one year high of $76.18. The company has a market cap of $6.88 billion, a P/E ratio of -12.23 and a beta of 3.44. The firm has a 50-day moving average of $46.98 and a 200-day moving average of $49.09.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the prior year, the business earned ($1.38) EPS. Wayfair’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts expect that Wayfair will post -2.91 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In related news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. This represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,868 shares of company stock valued at $4,866,748. 23.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Tabor Asset Management LP raised its stake in shares of Wayfair by 11.3% during the third quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock worth $8,813,000 after acquiring an additional 15,932 shares in the last quarter. Groupama Asset Managment raised its position in Wayfair by 100.0% in the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock worth $56,180,000 after purchasing an additional 500,000 shares during the period. Highland Peak Capital LLC bought a new stake in Wayfair in the second quarter worth $5,165,000. Sei Investments Co. boosted its position in Wayfair by 32.8% during the second quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock valued at $7,035,000 after buying an additional 32,968 shares during the period. Finally, Cerity Partners LLC bought a new position in shares of Wayfair during the third quarter valued at about $1,070,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

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.