Wayfair (W) Rating Increased to Hold at Zacks Investment Research

Wayfair (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “Wayfair is well positioned in the home automation retail market. Its high revenues and strong metrics growth is a big positive. The management remains confident about growth in markets, namely, Canada, U.K. and Germany as the company has made efforts to expand its house-brand offerings in these countries. However, we remain concerned about increasing advertising expenditure and its impact on profitability. Unhealthy competition and high vulnerability to exchange rate volatility also remain concerns. In past 12 months, the stock has outperformed the industry it belongs to.”

Other research analysts have also issued reports about the company. Gordon Haskett lowered Wayfair from a “buy” rating to an “accumulate” rating in a research report on Wednesday, January 31st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $89.00 target price on shares of Wayfair in a research report on Wednesday, December 13th. Moffett Nathanson initiated coverage on Wayfair in a report on Monday, December 4th. They set a “buy” rating for the company. Canaccord Genuity reiterated a “buy” rating and set a $90.00 price target on shares of Wayfair in a report on Thursday, November 2nd. Finally, Cowen reiterated a “buy” rating and set a $72.00 price target (down from $82.00) on shares of Wayfair in a report on Wednesday, November 1st. Fourteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $80.11.

Shares of Wayfair (NYSE W) traded up $1.70 during trading hours on Friday, reaching $90.68. The company had a trading volume of 1,404,643 shares, compared to its average volume of 1,068,465. The company has a market cap of $7,815.11, a price-to-earnings ratio of -36.27 and a beta of 1.05. The company has a debt-to-equity ratio of 135.98, a quick ratio of 1.17 and a current ratio of 1.19. Wayfair has a twelve month low of $35.36 and a twelve month high of $94.95.

In other news, insider Steven Conine sold 1,226 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $64.08, for a total value of $78,562.08. Following the completion of the sale, the insider now directly owns 61,641 shares in the company, valued at approximately $3,949,955.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 1,228 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $64.00, for a total value of $78,592.00. Following the completion of the sale, the chief executive officer now owns 61,642 shares of the company’s stock, valued at $3,945,088. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,010 shares of company stock valued at $4,913,814. 56.93% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in Wayfair by 331.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 583,843 shares of the company’s stock valued at $39,351,000 after purchasing an additional 448,390 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Wayfair by 37.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 375,935 shares of the company’s stock valued at $25,336,000 after purchasing an additional 101,696 shares during the last quarter. Rosenblum Silverman Sutton S F Inc. CA acquired a new position in Wayfair during the 3rd quarter valued at about $2,905,000. Allen Investment Management LLC boosted its stake in Wayfair by 11.4% during the 3rd quarter. Allen Investment Management LLC now owns 980,000 shares of the company’s stock valued at $66,052,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in Wayfair during the 3rd quarter valued at about $4,235,000. Institutional investors and hedge funds own 66.89% of the company’s stock.

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About Wayfair

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

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