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

StockNews.com lowered shares of Wayfair (NYSE:W) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

W has been the subject of a number of other research reports. Loop Capital increased their target price on shares of Wayfair from $55.00 to $65.00 and gave the stock a hold rating in a report on Tuesday, April 2nd. Royal Bank of Canada cut their target price on shares of Wayfair from $62.00 to $61.00 and set a sector perform rating on the stock in a research report on Wednesday, April 24th. Sanford C. Bernstein upped their price target on shares of Wayfair from $50.00 to $55.00 and gave the stock a market perform rating in a report on Friday. Canaccord Genuity Group reiterated a buy rating and issued a $80.00 price target on shares of Wayfair in a research note on Friday, February 23rd. Finally, Piper Sandler restated an overweight rating and set a $91.00 price objective (up previously from $88.00) on shares of Wayfair in a research report on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wayfair presently has a consensus rating of Moderate Buy and an average price target of $77.29.

Wayfair Price Performance

Shares of NYSE:W opened at $68.49 on Friday. Wayfair has a 1 year low of $33.85 and a 1 year high of $90.71. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of -12.78 and a beta of 3.32. The company’s 50 day simple moving average is $60.24 and its 200 day simple moving average is $55.46.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.08. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, analysts anticipate that Wayfair will post -3.37 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, COO Thomas Netzer sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the transaction, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at approximately $6,964,665.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Wayfair news, COO Thomas Netzer sold 20,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.72, for a total transaction of $1,194,400.00. Following the completion of the sale, the chief operating officer now owns 116,622 shares in the company, valued at approximately $6,964,665.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Niraj Shah sold 1,700 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $52.02, for a total transaction of $88,434.00. Following the completion of the transaction, the chief executive officer now directly owns 267,437 shares in the company, valued at $13,912,072.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,664 shares of company stock valued at $5,289,900. Corporate insiders own 23.50% of the company’s stock.

Institutional Trading of Wayfair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in W. M&T Bank Corp lifted its holdings in shares of Wayfair by 4.3% in the third quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock valued at $318,000 after purchasing an additional 219 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Wayfair by 4.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock valued at $409,000 after buying an additional 276 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Wayfair by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock valued at $2,251,000 after buying an additional 360 shares during the last quarter. Amalgamated Bank lifted its stake in Wayfair by 2.8% during the 4th quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock valued at $903,000 after acquiring an additional 397 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in Wayfair during the 1st quarter worth $27,000. 89.67% of the stock is owned by institutional investors.

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.