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 note issued to investors on Thursday.

A number of other research firms have also recently commented on W. Loop Capital lifted their target price on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday. Citigroup cut their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. BMO Capital Markets decreased their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. Thirteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Trading Down 3.7 %

Shares of NYSE W opened at $43.75 on Thursday. The stock has a market cap of $5.48 billion, a P/E ratio of -9.74 and a beta of 3.44. The business’s fifty day simple moving average is $46.29 and its 200-day simple moving average is $48.74. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18.

Wayfair (NYSE:W) last announced 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 firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.38) earnings per share. On average, equities analysts forecast that Wayfair will post -2.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $42.31, for a total value of $1,269,300.00. Following the transaction, the insider now owns 179,073 shares in the company, valued at approximately $7,576,578.63. This trade represents a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $50.65, for a total value of $52,625.35. Following the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at $8,701,163.50. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,896 shares of company stock valued at $4,869,409. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently made changes to their positions in the business. Southpoint Capital Advisors LP bought a new stake in shares of Wayfair in the 3rd quarter worth about $78,652,000. Holocene Advisors LP increased its holdings in Wayfair by 5,699.8% in 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 last quarter. Renaissance Technologies LLC increased its holdings in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after buying an additional 675,271 shares during the last quarter. Groupama Asset Managment raised its stake in Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after buying an additional 500,000 shares in the last quarter. Finally, Wolf Hill Capital Management LP increased its holdings in shares of Wayfair by 22.9% in 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 during the last quarter. Hedge funds and other 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.