Wayfair (NYSE:W) Cut to “Neutral” at Wedbush

Wedbush lowered shares of Wayfair (NYSE:W) from an outperform rating to a neutral rating in a research report released on Monday, MarketBeat.com reports. They currently have $44.00 price target on the stock, down from their prior price target of $45.00.

Other research analysts also recently issued reports about the company. Robert W. Baird cut their price objective on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Truist Financial reduced their target price on Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada dropped their price target on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.24.

Wayfair Stock Performance

W opened at $45.29 on Monday. The stock has a market capitalization of $5.68 billion, a P/E ratio of -10.09 and a beta of 3.43. The company’s 50-day simple moving average is $45.24 and its two-hundred day simple moving average is $47.70. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last posted its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.87 billion. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.38) EPS. Research analysts forecast that Wayfair will post -2.91 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

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 directly owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 8.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the completion of the transaction, the insider now directly owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. This represents a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,081 shares of company stock valued at $6,253,870. Corporate insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Institutional investors have recently modified their holdings of the business. Creative Planning lifted its holdings in Wayfair by 2.1% during the 3rd quarter. Creative Planning now owns 13,261 shares of the company’s stock worth $745,000 after buying an additional 272 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 281 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Wayfair in the third quarter valued at approximately $29,000. Optimist Retirement Group LLC increased its stake in Wayfair by 14.9% in the second quarter. Optimist Retirement Group LLC now owns 4,379 shares of the company’s stock valued at $231,000 after purchasing an additional 568 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Wayfair by 12.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,217 shares of the company’s stock worth $381,000 after purchasing an additional 788 shares in the last quarter. 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.