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 sent to investors on Wednesday morning.

Several other brokerages have also recently commented on W. Barclays dropped their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Piper Sandler decreased their price target 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. Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Royal Bank of Canada decreased their target price on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, November 4th. Finally, Robert W. Baird lowered their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Thirteen equities research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Down 1.5 %

Shares of Wayfair stock opened at $38.21 on Wednesday. The firm has a market cap of $4.79 billion, a PE ratio of -8.51 and a beta of 3.46. The business has a 50-day moving average price of $48.21 and a 200 day moving average price of $51.50. Wayfair has a twelve month low of $37.35 and a twelve month high of $76.18.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the firm earned ($1.38) EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that Wayfair will post -2.92 EPS for the current year.

Insider Buying and Selling at Wayfair

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

Institutional Trading of Wayfair

Several hedge funds have recently modified their holdings of the stock. Capital World Investors increased its stake in shares of Wayfair by 0.9% during the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after buying an additional 103,369 shares during the period. Vanguard Group Inc. increased its position in shares of Wayfair by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock valued at $574,801,000 after purchasing an additional 363,948 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Wayfair by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock valued at $162,755,000 after purchasing an additional 675,271 shares in the last quarter. Wolf Hill Capital Management LP lifted its position in shares of Wayfair by 22.9% during the 2nd quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after purchasing an additional 432,404 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new position in shares of Wayfair during the third quarter worth $78,652,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.