Wayfair (NYSE:W) Stock Rating Upgraded by StockNews.com

Wayfair (NYSE:W) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other research analysts also recently issued research reports about the company. Raymond James cut their price target on Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Friday, August 2nd. Barclays lowered their price target on shares of Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Gordon Haskett cut Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird lowered their price target on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Wedbush reduced their price objective on shares of Wayfair from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Up 3.8 %

Wayfair stock opened at $39.19 on Wednesday. The stock has a market cap of $4.91 billion, a P/E ratio of -8.73 and a beta of 3.46. The company’s 50 day moving average price is $48.40 and its two-hundred day moving average price is $51.78. Wayfair has a 52 week low of $37.51 and a 52 week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.38) EPS. On average, equities analysts anticipate that Wayfair will post -2.92 EPS for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction 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 owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the sale, the chief financial officer now owns 117,947 shares in the company, valued at $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. 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 90 days, insiders sold 37,868 shares of company stock worth $2,003,248. 26.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Wayfair in the third quarter worth about $29,000. International Assets Investment Management LLC purchased a new stake in shares of Wayfair in the 2nd quarter worth approximately $58,000. Comerica Bank increased its position in Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock valued at $83,000 after buying an additional 829 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Wayfair during the second quarter valued at $109,000. Finally, Quarry LP boosted its holdings in Wayfair by 880.0% in the second quarter. Quarry LP now owns 2,548 shares of the company’s stock worth $134,000 after acquiring an additional 2,288 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.