Wayfair (NYSE:W) Downgraded 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 research note issued on Monday.

A number of other brokerages also recently weighed in on W. BMO Capital Markets dropped their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus dropped their target price on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Argus downgraded shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Loop Capital boosted their target price on shares of Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Wayfair Trading Up 2.5 %

W traded up $1.35 during trading on Monday, hitting $54.88. The stock had a trading volume of 4,326,573 shares, compared to its average volume of 4,424,165. The firm has a market cap of $6.88 billion, a PE ratio of -12.22 and a beta of 3.44. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The company has a 50 day simple moving average of $46.91 and a 200-day simple moving average of $49.09.

Wayfair (NYSE:W) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) 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 analyst estimates of $2.87 billion. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.38) earnings per share. As a group, sell-side analysts anticipate that Wayfair will post -2.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, insider Steven Conine sold 30,000 shares of Wayfair 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 sale, the insider now directly owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 52,078 shares in the company, valued at $2,791,380.80. The trade was a 8.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,868 shares of company stock valued at $4,866,748 in the last ninety days. 26.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of W. Tabor Asset Management LP lifted its position in shares of Wayfair by 11.3% during the 3rd quarter. Tabor Asset Management LP now owns 156,871 shares of the company’s stock valued at $8,813,000 after acquiring an additional 15,932 shares during the period. Highland Peak Capital LLC acquired a new position in shares of Wayfair during the 2nd quarter valued at $5,165,000. Groupama Asset Managment lifted its position in shares of Wayfair by 100.0% during the 3rd quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after acquiring an additional 500,000 shares during the period. Sei Investments Co. lifted its position in shares of Wayfair by 32.8% during 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 during the period. Finally, Cerity Partners LLC acquired a new position in shares of Wayfair during the 3rd quarter valued at $1,070,000. 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.