Wayfair (NYSE:W) Upgraded by StockNews.com to Hold Rating

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

Other equities research analysts have also issued research reports about the stock. Raymond James cut their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a report on Friday, August 2nd. Citigroup reduced their target price on Wayfair from $70.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Wayfair in a research report on Friday, November 1st. Stifel Nicolaus dropped their price target on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Down 1.5 %

Shares of NYSE W opened at $38.22 on Wednesday. The stock’s fifty day simple moving average is $48.13 and its 200 day simple moving average is $51.41. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of -8.51 and a beta of 3.46. Wayfair has a 52-week low of $37.35 and a 52-week high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the business posted ($1.38) EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts anticipate that Wayfair will post -2.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the transaction, the insider now directly owns 52,078 shares in the company, valued at approximately $2,791,380.80. This trade represents a 8.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas Netzer sold 1,011 shares of Wayfair stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now owns 151,802 shares in the company, valued at $7,502,054.84. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,868 shares of company stock valued at $2,003,248 over the last three months. 26.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wayfair

Several large investors have recently made changes to their positions in W. Oppenheimer & Co. Inc. bought a new position in Wayfair during the first quarter worth $438,000. Swiss National Bank raised its position in shares of Wayfair by 2.4% during the first quarter. Swiss National Bank now owns 163,900 shares of the company’s stock valued at $11,126,000 after buying an additional 3,800 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Wayfair by 14.6% in the first quarter. Sei Investments Co. now owns 100,447 shares of the company’s stock valued at $6,818,000 after buying an additional 12,809 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Wayfair by 12.0% in the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock valued at $252,000 after buying an additional 399 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in Wayfair during the first quarter worth about $937,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.