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

Wayfair (NYSE:W) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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. Bank of America downgraded Wayfair from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $58.00 in a report on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada reduced their target price on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Finally, BMO Capital Markets decreased their price target 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. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Stock Performance

Shares of NYSE:W opened at $42.39 on Thursday. The stock has a 50-day simple moving average of $48.02 and a 200-day simple moving average of $51.14. The stock has a market capitalization of $5.31 billion, a P/E ratio of -9.44 and a beta of 3.46. Wayfair has a 1 year low of $37.35 and a 1 year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.38) earnings per share. Analysts predict that Wayfair will post -2.92 earnings per share for the current year.

Insider Activity

In related news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This trade represents a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,868 shares of company stock valued at $2,003,248. Company insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Wayfair by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after buying an additional 363,948 shares during the period. Highland Peak Capital LLC acquired a new stake in shares of Wayfair during the second quarter valued at approximately $5,165,000. Sei Investments Co. lifted its position in shares of Wayfair by 32.8% in the 2nd quarter. Sei Investments Co. now owns 133,415 shares of the company’s stock valued at $7,035,000 after acquiring an additional 32,968 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Wayfair in the 2nd quarter valued at approximately $8,189,000. Finally, Caxton Associates LP purchased a new position in Wayfair during the 1st quarter worth approximately $1,164,000. 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.