StockNews.com Upgrades Wayfair (NYSE:W) to “Hold”

Wayfair (NYSE:W) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other analysts have also recently weighed in on W. 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. Citigroup cut their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada decreased their price target on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a research note on Friday, November 1st. Finally, Stifel Nicolaus decreased their target price on Wayfair from $55.00 to $47.00 and set a “hold” 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Stock Down 3.7 %

Shares of Wayfair stock traded down $1.70 on Thursday, hitting $43.75. 5,444,056 shares of the company traded hands, compared to its average volume of 4,416,072. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18. The company has a market cap of $5.48 billion, a PE ratio of -9.74 and a beta of 3.44. The company has a 50-day moving average price of $46.29 and a 200 day moving average price of $48.74.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.87 billion. Wayfair’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.38) EPS. Equities research analysts anticipate that Wayfair will post -2.91 EPS for the current year.

Insider Activity

In related news, CTO Fiona Tan sold 10,040 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the transaction, the chief technology officer now owns 84,655 shares of the company’s stock, valued at $4,491,794.30. This trade represents a 10.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total transaction of $1,269,300.00. Following the transaction, the insider now owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. This represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,896 shares of company stock valued at $4,869,409. 26.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently modified their holdings of W. Capital Performance Advisors LLP bought a new stake in Wayfair in the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wayfair in the 3rd quarter valued at about $44,000. Brooklyn Investment Group bought a new stake in shares of Wayfair in the third quarter valued at about $50,000. International Assets Investment Management LLC acquired a new position in shares of Wayfair during the second quarter worth about $58,000. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of Wayfair during the third quarter worth about $67,000. Institutional investors and hedge funds 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.