Wayfair (NYSE:W) Downgraded by StockNews.com

StockNews.com lowered shares of Wayfair (NYSE:W) from a hold rating to a sell rating in a research report released on Friday morning.

A number of other brokerages have also weighed in on W. Evercore ISI raised shares of Wayfair from an in-line rating to an outperform rating and upped their price target for the stock from $65.00 to $80.00 in a research note on Thursday, April 4th. Citigroup boosted their target price on shares of Wayfair from $73.00 to $85.00 and gave the stock a buy rating in a report on Thursday, March 28th. Raymond James upgraded shares of Wayfair from a market perform rating to a strong-buy rating and set a $65.00 target price on the stock in a report on Friday, February 16th. Wedbush reiterated an outperform rating and issued a $70.00 target price on shares of Wayfair in a report on Friday. Finally, Needham & Company LLC reiterated a buy rating and issued a $75.00 target price on shares of Wayfair in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $77.29.

Wayfair Stock Up 7.7 %

Wayfair stock opened at $68.49 on Friday. The firm has a 50-day moving average price of $60.24 and a two-hundred day moving average price of $55.46. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of -12.78 and a beta of 3.32. Wayfair has a 52-week low of $33.85 and a 52-week high of $90.71.

Wayfair (NYSE:W) last posted its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.08. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Research analysts expect that Wayfair will post -3.37 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, CTO Fiona Tan sold 5,315 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total value of $335,163.90. Following the completion of the sale, the chief technology officer now directly owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Steven Conine sold 8,300 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $52.31, for a total value of $434,173.00. Following the completion of the transaction, the insider now owns 259,073 shares in the company, valued at approximately $13,552,108.63. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Fiona Tan sold 5,315 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.06, for a total transaction of $335,163.90. Following the completion of the transaction, the chief technology officer now owns 51,095 shares of the company’s stock, valued at approximately $3,222,050.70. The disclosure for this sale can be found here. Insiders sold a total of 86,664 shares of company stock valued at $5,289,900 in the last ninety days. Company insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of hedge funds have recently made changes to their positions in the company. M&T Bank Corp increased its position in shares of Wayfair by 4.3% during the 3rd quarter. M&T Bank Corp now owns 5,262 shares of the company’s stock worth $318,000 after purchasing an additional 219 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Wayfair by 4.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,749 shares of the company’s stock worth $409,000 after purchasing an additional 276 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Wayfair by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock worth $2,251,000 after purchasing an additional 360 shares in the last quarter. Amalgamated Bank grew its holdings in Wayfair by 2.8% during the 4th quarter. Amalgamated Bank now owns 14,640 shares of the company’s stock worth $903,000 after acquiring an additional 397 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in Wayfair during the 1st quarter worth about $27,000. Institutional investors and hedge funds 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.