Wayfair Inc. (W) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Wayfair Inc. (NYSE:W) from a hold rating to a sell rating in a research note released on Wednesday morning.

According to Zacks, “Wayfair is an e-commerce giant operating in the home goods space. Its third-quarter loss was wider than the Zacks Consensus Estimate and revenues also missed the same. Higher-than-expected operating expenses impacted the company’s bottom line. However, management remains confident about growth in markets, namely, Canada, U.K. and Germany. The company made efforts to expand its house-brand offerings in these countries. Although we remain concerned about increasing advertising expenditure and its impact on profitability, Wayfair is well positioned in the home automation retail market. Also, its high revenues and strong metrics growth is a big positive. Year to date, the stock has outperformed the industry it belongs to.”

Other research analysts have also issued reports about the stock. Canaccord Genuity reissued a buy rating on shares of Wayfair in a report on Tuesday, August 8th. BidaskClub downgraded shares of Wayfair from a strong-buy rating to a buy rating in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. set a $88.00 price target on shares of Wayfair and gave the stock a buy rating in a research report on Friday, August 4th. Buckingham Research restated a buy rating and issued a $95.00 price target on shares of Wayfair in a research report on Thursday, August 10th. Finally, Wedbush restated a buy rating on shares of Wayfair in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $76.01.

Wayfair (W) opened at $61.57 on Wednesday. The company has a debt-to-equity ratio of 135.98, a current ratio of 1.19 and a quick ratio of 1.17. Wayfair has a fifty-two week low of $32.61 and a fifty-two week high of $84.19.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, November 2nd. The company reported ($0.65) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.03. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Wayfair had a negative net margin of 5.06% and a negative return on equity of 658.45%. The firm’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period last year, the business earned ($0.54) EPS. sell-side analysts forecast that Wayfair will post -2.58 earnings per share for the current fiscal year.

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In other Wayfair news, CEO Niraj Shah sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $70.68, for a total transaction of $706,800.00. Following the transaction, the chief executive officer now owns 7,630 shares of the company’s stock, valued at approximately $539,288.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Steve Oblak sold 400 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $77.92, for a total transaction of $31,168.00. Following the transaction, the senior vice president now directly owns 120,621 shares in the company, valued at approximately $9,398,788.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 337,809 shares of company stock worth $23,373,284. 56.93% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Zevenbergen Capital Investments LLC grew its stake in shares of Wayfair by 542.6% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 461,190 shares of the company’s stock worth $31,084,000 after purchasing an additional 389,420 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Wayfair by 27.6% in the 3rd quarter. Legal & General Group Plc now owns 16,943 shares of the company’s stock worth $1,142,000 after purchasing an additional 3,660 shares during the last quarter. Jasper Ridge Partners L.P. grew its stake in shares of Wayfair by 207.9% in the 3rd quarter. Jasper Ridge Partners L.P. now owns 88,946 shares of the company’s stock worth $5,995,000 after purchasing an additional 60,062 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Wayfair by 74.3% in the 3rd quarter. Pacer Advisors Inc. now owns 8,548 shares of the company’s stock worth $576,000 after purchasing an additional 3,645 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Wayfair by 249.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 12,600 shares of the company’s stock worth $849,000 after purchasing an additional 8,996 shares during the last quarter. 66.32% of the stock is currently owned by institutional investors.

Wayfair Company Profile

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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