Wayfair (NYSE:W) Cut to Neutral at Wedbush

Wedbush downgraded shares of Wayfair (NYSE:W) from an outperform rating to a neutral rating in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $44.00 target price on the stock, down from their prior target price of $45.00.

A number of other brokerages have also recently commented on W. Mizuho reduced their target price on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 4th. StockNews.com raised Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Truist Financial dropped 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. BMO Capital Markets decreased their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Finally, Robert W. Baird lowered their price objective on shares of Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.24.

Wayfair Stock Down 1.6 %

W opened at $45.29 on Monday. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18. The business’s 50 day moving average is $45.24 and its two-hundred day moving average is $47.70. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of -10.09 and a beta of 3.43.

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

Insiders Place Their Bets

In other news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was 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 $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kate Gulliver sold 5,754 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $47.06, for a total value of $270,783.24. Following the sale, the chief financial officer now directly owns 124,210 shares in the company, valued at approximately $5,845,322.60. The trade was a 4.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,081 shares of company stock worth $6,253,870. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

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