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

Wayfair (NYSE:W) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other analysts have also recently issued reports on the stock. Citigroup lifted their target price on shares of Wayfair from $73.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. BMO Capital Markets boosted their price objective on shares of Wayfair from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Friday. Barclays reduced their price objective on shares of Wayfair from $85.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, January 4th. Mizuho initiated coverage on shares of Wayfair in a research note on Tuesday, March 19th. They issued a “buy” rating and a $72.00 price objective for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $91.00 price objective (up from $88.00) on shares of Wayfair in a research note on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $76.45.

Wayfair Stock Up 8.4 %

NYSE W opened at $63.59 on Friday. The stock has a market capitalization of $7.65 billion, a PE ratio of -11.86 and a beta of 3.32. The company has a 50 day moving average price of $59.92 and a two-hundred day moving average price of $55.21. Wayfair has a 12-month low of $33.85 and a 12-month high of $90.71.

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

Insider Buying and Selling at Wayfair

In related news, COO Thomas Netzer sold 20,000 shares of the firm’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 completion of the transaction, the chief operating officer now owns 116,622 shares in the company, valued at approximately $6,964,665.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jon Blotner sold 3,492 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.34, for a total value of $175,787.28. Following the sale, the insider now owns 32,118 shares of the company’s stock, valued at approximately $1,616,820.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas Netzer sold 20,000 shares of Wayfair stock in a transaction dated 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 transaction, the chief operating officer now directly owns 116,622 shares of the company’s stock, valued at $6,964,665.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,156 shares of company stock valued at $5,465,688. 26.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Several large investors have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Wayfair in the first quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new position in Wayfair in the 4th quarter valued at $29,000. GAMMA Investing LLC bought a new position in Wayfair in the 4th quarter valued at $31,000. BluePath Capital Management LLC acquired a new position in Wayfair in the third quarter worth $34,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Wayfair during the third quarter worth $34,000. 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.