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

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

Several other research analysts have also recently commented on the company. Barclays reduced their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. BMO Capital Markets decreased 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 note on Monday, November 4th. The Goldman Sachs Group dropped their price target on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Gordon Haskett downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Citigroup lowered their price objective on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Trading Up 1.5 %

W stock opened at $43.28 on Thursday. The stock has a 50-day moving average price of $47.93 and a two-hundred day moving average price of $51.02. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18. The stock has a market cap of $5.42 billion, a PE ratio of -9.51 and a beta of 3.46.

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, topping analysts’ consensus estimates 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. The firm’s quarterly revenue 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, analysts forecast that Wayfair will post -2.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, CFO Kate Gulliver sold 7,330 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the transaction, the chief financial officer now directly owns 117,947 shares in the company, valued at $6,257,088.35. The trade was a 5.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 37,868 shares of company stock worth $2,003,248 in the last quarter. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several large investors have recently bought and sold shares of W. Vanguard Group Inc. grew its stake 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 worth $574,801,000 after purchasing an additional 363,948 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Wayfair by 7.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 19,998 shares of the company’s stock valued at $1,358,000 after buying an additional 1,400 shares during the period. Axxcess Wealth Management LLC bought a new position in shares of Wayfair during the first quarter worth about $204,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Wayfair by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,679 shares of the company’s stock worth $3,644,000 after acquiring an additional 4,458 shares during the period. Finally, Caxton Associates LP acquired a new position in shares of Wayfair in the first quarter worth approximately $1,164,000. 89.67% of the stock is currently owned by institutional investors.

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.