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

Wayfair (NYSE:W - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Thursday.

W has been the topic of several other reports. Piper Sandler cut their price target on shares of Wayfair from $67.00 to $63.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Raymond James dropped their target price on Wayfair from $70.00 to $65.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 2nd. Argus cut Wayfair from a "buy" rating to a "hold" rating in a research note on Monday, August 26th. Needham & Company LLC restated a "buy" rating and set a $60.00 price target on shares of Wayfair in a research note on Friday, November 1st. Finally, Citigroup lowered their target price on shares of Wayfair from $70.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and an average price target of $60.28.

Wayfair Stock Up 4.0 %

Shares of NYSE:W opened at $42.39 on Thursday. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of -9.44 and a beta of 3.46. The firm has a 50 day moving average of $47.97 and a 200 day moving average of $51.08. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.87 billion. During the same quarter last year, the company earned ($1.38) earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Wayfair will post -2.92 EPS for the current year.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the company's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the transaction, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. This represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Netzer sold 1,011 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. This represents a 0.66 % decrease in their position. 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. Company insiders own 26.81% of the company's stock.

Institutional Investors Weigh In On Wayfair

Large investors have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Wayfair in the third quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Wayfair in the 3rd quarter valued at about $44,000. Brooklyn Investment Group acquired a new stake in shares of Wayfair in the 3rd quarter valued at about $50,000. International Assets Investment Management LLC purchased a new position in Wayfair during the 2nd quarter worth approximately $58,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Wayfair during the 3rd quarter worth approximately $67,000. 89.67% of the stock is owned by hedge funds and other 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.