Wayfair (NYSE:W) Rating Lowered to “Neutral” at Wedbush

Wayfair (NYSE:W) was downgraded by equities research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat reports. They presently have a $44.00 price objective on the stock, down from their previous price objective of $45.00. Wedbush’s price target would suggest a potential downside of 4.70% from the company’s previous close.

A number of other equities research analysts have also recently commented on W. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. UBS Group lowered their target price on shares of Wayfair from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets dropped their target price on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a research report on Friday, November 1st. Finally, Loop Capital increased their target price on Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.24.

Wayfair Trading Down 4.8 %

Shares of W stock opened at $46.17 on Monday. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The stock has a market cap of $5.79 billion, a P/E ratio of -10.28 and a beta of 3.43. The company has a 50 day simple moving average of $45.18 and a two-hundred day simple moving average of $47.74.

Wayfair (NYSE:W) last released its earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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. Wayfair’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.38) earnings per share. As a group, equities analysts forecast that Wayfair will post -2.91 earnings per share for the current year.

Insider Activity

In related news, CTO Fiona Tan sold 8,249 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.91, for a total transaction of $370,462.59. Following the completion of the sale, the chief technology officer now directly owns 96,557 shares of the company’s stock, valued at approximately $4,336,374.87. This trade represents a 7.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $42.31, for a total value of $1,269,300.00. Following the transaction, the insider now owns 179,073 shares of the company’s stock, valued at approximately $7,576,578.63. The trade was a 14.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,081 shares of company stock valued at $6,253,870 in the last ninety days. Insiders own 26.81% of the company’s stock.

Institutional Trading of Wayfair

Large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Wayfair in the 3rd quarter worth $29,000. GAMMA Investing LLC raised its holdings in Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Wayfair during the third quarter valued at about $44,000. Brooklyn Investment Group purchased a new stake in shares of Wayfair during the third quarter valued at about $50,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of Wayfair in the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

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.