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

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

A number of other research firms also recently weighed in on W. Loop Capital upped their target price on Wayfair from $45.00 to $55.00 and gave the stock a "hold" rating in a research report on Thursday, September 26th. BMO Capital Markets lowered their price objective on shares of Wayfair from $58.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wayfair from $69.00 to $46.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Piper Sandler cut their price objective on Wayfair from $67.00 to $63.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wayfair currently has an average rating of "Moderate Buy" and an average target price of $60.28.

Wayfair Stock Performance

Shares of W stock traded up $0.27 on Thursday, hitting $42.68. The stock had a trading volume of 2,395,283 shares, compared to its average volume of 4,443,869. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of -9.44 and a beta of 3.46. The stock's 50 day moving average is $47.97 and its 200-day moving average is $51.08.

Wayfair (NYSE:W - Get Free Report) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. Wayfair'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) EPS. Equities analysts expect that Wayfair will post -2.92 earnings per share for the current year.

Insider Transactions at Wayfair

In related news, COO Thomas Netzer sold 1,011 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Fiona Tan sold 10,040 shares of the 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 completion of the transaction, the chief technology officer now owns 84,655 shares in the company, valued at $4,491,794.30. The trade was a 10.60 % 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 valued at $2,003,248. Corporate insiders own 26.81% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased 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 purchasing an additional 363,948 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Wayfair by 7.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 19,998 shares of the company's stock worth $1,358,000 after acquiring an additional 1,400 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of Wayfair in the first quarter valued at approximately $204,000. Price T Rowe Associates Inc. MD lifted its position in shares of Wayfair by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,679 shares of the company's stock worth $3,644,000 after purchasing an additional 4,458 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in Wayfair during the first quarter worth $1,164,000. Institutional investors and hedge funds 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.