Wayfair (NYSE:W) Rating Lowered to Buy at ValuEngine

Wayfair (NYSE:W) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus restated a “buy” rating and issued a $110.00 price target (down previously from $120.00) on shares of Wayfair in a research report on Thursday, December 12th. Wells Fargo & Co restated a “hold” rating and issued a $85.00 price target on shares of Wayfair in a research report on Thursday, October 31st. Loop Capital reduced their price target on shares of Wayfair from $180.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. KeyCorp restated a “hold” rating on shares of Wayfair in a research report on Friday, November 1st. Finally, Robert W. Baird reduced their price target on shares of Wayfair from $150.00 to $102.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $123.52.

Wayfair stock opened at $105.81 on Tuesday. The stock has a market cap of $9.49 billion, a P/E ratio of -18.86 and a beta of 1.83. Wayfair has a 1 year low of $78.61 and a 1 year high of $173.72. The firm’s 50 day moving average price is $89.73 and its 200-day moving average price is $109.92.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, October 31st. The company reported ($2.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.89) by $0.66. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.28 billion. The company’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.28) EPS. Sell-side analysts expect that Wayfair will post -10.55 earnings per share for the current fiscal year.

In other news, insider James R. Miller sold 1,687 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $81.99, for a total transaction of $138,317.13. Following the completion of the sale, the insider now directly owns 14,263 shares of the company’s stock, valued at $1,169,423.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edmond Macri sold 1,200 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $120.00, for a total transaction of $144,000.00. Following the sale, the insider now directly owns 950 shares of the company’s stock, valued at $114,000. The disclosure for this sale can be found here. Insiders have sold 16,621 shares of company stock worth $1,415,765 in the last quarter. Company insiders own 33.86% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. CSat Investment Advisory L.P. purchased a new stake in shares of Wayfair during the second quarter valued at $25,000. Sound Income Strategies LLC lifted its stake in Wayfair by 200.0% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the company’s stock worth $27,000 after acquiring an additional 200 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Wayfair in the second quarter worth about $77,000. Macquarie Group Ltd. purchased a new stake in Wayfair in the second quarter worth about $88,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Wayfair in the second quarter worth about $111,000. 81.02% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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Analyst Recommendations for Wayfair (NYSE:W)

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