StockNews.com Upgrades Wayfair (NYSE:W) to “Hold”

Wayfair (NYSE:W) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Other equities analysts also recently issued reports about the company. Citigroup lowered their target price on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada cut their price objective on Wayfair from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday, November 4th. Loop Capital raised their target price on shares of Wayfair from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. BMO Capital Markets dropped their price target on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, November 4th. Finally, Truist Financial decreased their price objective on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Trading Up 4.5 %

Shares of W opened at $45.72 on Thursday. The firm has a fifty day simple moving average of $46.12 and a two-hundred day simple moving average of $48.65. The firm has a market cap of $5.73 billion, a PE ratio of -10.18 and a beta of 3.44. Wayfair has a 1-year low of $37.35 and a 1-year high of $76.18.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter last year, the company posted ($1.38) EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts forecast that Wayfair will post -2.91 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In other Wayfair news, 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 transaction of $1,269,300.00. Following the transaction, the insider now owns 179,073 shares in the company, valued at $7,576,578.63. The trade was a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon Blotner sold 6,055 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.07, for a total transaction of $321,338.85. Following the completion of the sale, the insider now owns 62,817 shares of the company’s stock, valued at $3,333,698.19. This trade represents a 8.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,896 shares of company stock worth $4,869,409 over the last 90 days. 26.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of the business. 272 Capital LP grew its holdings in shares of Wayfair by 15.7% in the third quarter. 272 Capital LP now owns 44,053 shares of the company’s stock worth $2,475,000 after purchasing an additional 5,965 shares during the last quarter. Tidal Investments LLC grew its stake in Wayfair by 18.1% in the 3rd quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock worth $1,217,000 after acquiring an additional 3,320 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Wayfair by 16.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock worth $8,283,000 after acquiring an additional 20,884 shares during the period. Geode Capital Management LLC increased its position in shares of Wayfair by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock worth $85,690,000 after acquiring an additional 35,268 shares during the period. Finally, Groupama Asset Managment raised its stake in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after acquiring an additional 500,000 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.