StockNews.com Upgrades Wayfair (NYSE:W) to Hold

StockNews.com upgraded shares of Wayfair (NYSE:W) from a sell rating to a hold rating in a research report report published on Thursday.

W has been the subject of several other research reports. BMO Capital Markets cut their price objective on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. UBS Group cut their price target on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Piper Sandler lowered their price objective on shares of Wayfair from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Guggenheim reissued a “buy” rating and set a $70.00 target price on shares of Wayfair in a research note on Thursday, September 26th. Finally, Stifel Nicolaus decreased their price target on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Trading Down 3.7 %

W stock opened at $43.75 on Thursday. The firm’s 50-day moving average is $46.29 and its two-hundred day moving average is $48.74. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of -9.74 and a beta of 3.44. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.87 billion. Wayfair’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.38) EPS. On average, equities research analysts predict that Wayfair will post -2.91 earnings per share for the current year.

Insider Activity

In related news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the completion of the transaction, the insider now directly owns 632,573 shares in the company, valued at $33,614,929.22. This represents a 4.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas Netzer sold 1,039 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the completion of the sale, the chief operating officer now owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,896 shares of company stock valued at $4,869,409 over the last 90 days. 26.81% of the stock is currently owned by company insiders.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of W. Bank of New York Mellon Corp lifted its stake in Wayfair by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 290,512 shares of the company’s stock worth $15,319,000 after purchasing an additional 31,576 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Wayfair by 23.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 636,233 shares of the company’s stock valued at $33,549,000 after buying an additional 121,792 shares in the last quarter. My Personal CFO LLC bought a new stake in Wayfair in the second quarter valued at $1,201,000. BloombergSen Inc. raised its stake in Wayfair by 12.5% during the second quarter. BloombergSen Inc. now owns 16,592 shares of the company’s stock worth $875,000 after acquiring an additional 1,841 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Wayfair during the second quarter valued at $58,000. 89.67% of the stock is currently 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.