Wayfair (NYSE:W) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Wayfair (NYSE:W) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

W has been the topic of several other research reports. Zelman & Associates upped their price target on Wayfair from $85.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Wedbush reaffirmed a “neutral” rating on shares of Wayfair in a research note on Tuesday, August 5th. The Goldman Sachs Group upped their price target on Wayfair from $31.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Canaccord Genuity Group upped their price target on Wayfair from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, Royal Bank Of Canada increased their target price on Wayfair from $25.00 to $51.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.27.

Wayfair Stock Down 3.1%

Shares of W opened at $86.54 on Monday. Wayfair has a 12-month low of $20.41 and a 12-month high of $91.77. The firm has a market capitalization of $11.22 billion, a PE ratio of -36.06 and a beta of 3.03. The stock’s fifty day simple moving average is $78.90 and its 200-day simple moving average is $53.52.

Wayfair (NYSE:W) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.54. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the company earned $0.47 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Wayfair will post -2.54 EPS for the current year.

Insider Transactions at Wayfair

In other news, CEO Niraj Shah sold 85,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the sale, the chief executive officer owned 374,137 shares of the company’s stock, valued at $32,471,350.23. This trade represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Conine sold 85,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $86.79, for a total value of $7,377,150.00. Following the sale, the insider directly owned 374,073 shares in the company, valued at approximately $32,465,795.67. This represents a 18.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 923,857 shares of company stock worth $71,090,564. 21.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of W. GAMMA Investing LLC grew its holdings in shares of Wayfair by 85.8% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the company’s stock worth $42,000 after buying an additional 609 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Wayfair by 393.4% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock worth $42,000 after buying an additional 653 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Wayfair by 229.0% during the second quarter. Parallel Advisors LLC now owns 1,576 shares of the company’s stock worth $81,000 after buying an additional 1,097 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Wayfair by 49.3% during the second quarter. IFP Advisors Inc now owns 1,869 shares of the company’s stock worth $96,000 after buying an additional 617 shares in the last quarter. Finally, GFG Capital LLC bought a new position in Wayfair in the second quarter valued at approximately $102,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Company Profile

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.