Wayfair (NYSE:W) Downgraded by Wall Street Zen to “Hold”

Wayfair (NYSE:W) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also commented on W. Cowen reissued a “hold” rating on shares of Wayfair in a report on Wednesday, October 29th. Royal Bank Of Canada increased their price target on shares of Wayfair from $51.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Raymond James Financial lifted their price objective on shares of Wayfair from $90.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 29th. Citigroup boosted their price target on Wayfair from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Barclays upped their price objective on Wayfair from $70.00 to $104.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.29.

Wayfair Stock Performance

NYSE:W opened at $95.26 on Friday. The stock has a fifty day moving average price of $95.15 and a 200-day moving average price of $74.68. The company has a market cap of $12.42 billion, a price-to-earnings ratio of -37.21 and a beta of 3.25. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $114.92.

Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. Research analysts predict that Wayfair will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, CEO Niraj Shah sold 150,000 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $105.91, for a total transaction of $15,886,500.00. Following the completion of the transaction, the chief executive officer directly owned 729,137 shares of the company’s stock, valued at $77,222,899.67. This trade represents a 17.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $105.92, for a total value of $15,888,000.00. Following the transaction, the insider directly owned 729,073 shares in the company, valued at $77,223,412.16. The trade was a 17.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 955,959 shares of company stock valued at $88,260,274 in the last ninety days. Insiders own 21.91% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of institutional investors have recently modified their holdings of W. AQR Capital Management LLC boosted its position in shares of Wayfair by 111.7% during the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock valued at $16,786,000 after purchasing an additional 276,471 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Wayfair in the 2nd quarter worth about $1,512,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Wayfair in the first quarter valued at approximately $452,000. Signaturefd LLC boosted its holdings in Wayfair by 10.1% during the 2nd quarter. Signaturefd LLC now owns 376,697 shares of the company’s stock worth $19,264,000 after acquiring an additional 34,507 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Wayfair by 40.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,794 shares of the company’s stock worth $603,000 after purchasing an additional 3,395 shares in the last quarter. 89.67% of the stock is 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.