StockNews.com Lowers Wayfair (NYSE:W) to Sell

StockNews.com cut shares of Wayfair (NYSE:W) from a hold rating to a sell rating in a research note published on Friday.

W has been the topic of a number of other research reports. Sanford C. Bernstein lifted their price objective on Wayfair from $50.00 to $55.00 and gave the company a market perform rating in a report on Friday. Needham & Company LLC reiterated a buy rating and issued a $75.00 price objective on shares of Wayfair in a research report on Thursday. Barclays lowered their price target on shares of Wayfair from $85.00 to $60.00 and set an equal weight rating on the stock in a research note on Thursday, January 4th. TD Cowen boosted their price objective on shares of Wayfair from $55.00 to $58.00 and gave the stock a hold rating in a report on Friday. Finally, Raymond James upgraded shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 price target for the company in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wayfair presently has an average rating of Moderate Buy and a consensus price target of $77.14.

Wayfair Stock Up 8.4 %

NYSE W opened at $63.59 on Friday. The business’s 50-day moving average price is $59.92 and its 200 day moving average price is $55.29. The firm has a market cap of $7.65 billion, a P/E ratio of -11.86 and a beta of 3.32. Wayfair has a 52-week low of $33.85 and a 52-week high of $90.71.

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

Insider Activity

In other Wayfair news, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total transaction of $88,434.00. Following the sale, the chief executive officer now directly owns 267,437 shares in the company, valued at approximately $13,912,072.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Wayfair news, COO Thomas Netzer sold 984 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $60.58, for a total transaction of $59,610.72. Following the sale, the chief operating officer now owns 117,841 shares in the company, valued at $7,138,807.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Niraj Shah sold 1,700 shares of Wayfair stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $52.02, for a total value of $88,434.00. Following the completion of the transaction, the chief executive officer now owns 267,437 shares of the company’s stock, valued at approximately $13,912,072.74. The disclosure for this sale can be found here. Insiders sold 86,664 shares of company stock worth $5,289,900 over the last ninety days. Corporate insiders own 26.81% of the company’s stock.

Institutional Investors Weigh In On Wayfair

Institutional investors have recently modified their holdings of the business. Capital World Investors grew its holdings in shares of Wayfair by 8.7% during the fourth quarter. Capital World Investors now owns 12,042,210 shares of the company’s stock valued at $743,004,000 after purchasing an additional 962,307 shares during the last quarter. Vanguard Group Inc. lifted its stake in Wayfair by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 8,103,952 shares of the company’s stock valued at $500,014,000 after buying an additional 273,652 shares during the last quarter. Atreides Management LP boosted its holdings in shares of Wayfair by 1.8% during the third quarter. Atreides Management LP now owns 971,206 shares of the company’s stock valued at $58,826,000 after acquiring an additional 16,932 shares during the period. Norges Bank bought a new position in shares of Wayfair during the fourth quarter worth about $47,374,000. Finally, Wellington Management Group LLP increased its holdings in shares of Wayfair by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 764,495 shares of the company’s stock worth $47,169,000 after acquiring an additional 119,873 shares during the period. Institutional investors 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.