Wayfair (NYSE:W) Rating Lowered to “Sell” at StockNews.com

Wayfair (NYSE:W) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

W has been the subject of a number of other reports. UBS Group decreased their price objective on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Truist Financial reduced their price target on Wayfair from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday. Stifel Nicolaus dropped their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday. Argus cut Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Finally, Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Wayfair in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Performance

Wayfair stock opened at $40.43 on Tuesday. The firm has a market capitalization of $4.99 billion, a PE ratio of -9.00 and a beta of 3.46. Wayfair has a one year low of $37.60 and a one year high of $76.18. The stock’s 50 day moving average price is $48.61 and its 200 day moving average price is $52.11.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 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 analyst estimates of $2.87 billion. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.38) earnings per share. On average, analysts forecast that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the sale, the chief operating officer now directly owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,868 shares of company stock valued at $2,003,248. 26.81% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

A number of institutional investors have recently made changes to their positions in W. Daiwa Securities Group Inc. increased its stake in shares of Wayfair by 118.1% during the first quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock valued at $1,141,000 after acquiring an additional 9,108 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock valued at $114,000 after purchasing an additional 471 shares during the period. ORG Partners LLC acquired a new position in shares of Wayfair during the 1st quarter valued at $37,000. Sciencast Management LP bought a new stake in shares of Wayfair in the 1st quarter worth $285,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Wayfair in the first quarter valued at $9,000,000. 89.67% of the stock is owned by institutional investors and hedge funds.

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.