Wayfair (NYSE:W) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Wayfair (NYSE:W) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other analysts have also issued reports on the stock. Mizuho dropped their price target on shares of Wayfair from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Benchmark began coverage on shares of Wayfair in a report on Tuesday, July 7th. They set a “hold” rating for the company. Citigroup dropped their target price on shares of Wayfair from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Needham & Company LLC decreased their price target on Wayfair from $125.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Wells Fargo & Company lowered their price objective on Wayfair from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.36.

Wayfair Stock Performance

Shares of W opened at $84.70 on Monday. Wayfair has a one year low of $55.60 and a one year high of $119.98. The stock has a 50-day moving average price of $79.84 and a 200 day moving average price of $83.36. The company has a market capitalization of $11.18 billion, a P/E ratio of -36.20, a P/E/G ratio of 4.61 and a beta of 2.96.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Wayfair had a negative return on equity of 2.20% and a negative net margin of 2.41%.Wayfair’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. As a group, equities research analysts forecast that Wayfair will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, Director Steven Conine sold 7,139 shares of Wayfair stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $78.55, for a total transaction of $560,768.45. Following the sale, the director directly owned 429,073 shares in the company, valued at $33,703,684.15. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 6,137 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $78.62, for a total transaction of $482,490.94. Following the completion of the sale, the chief executive officer directly owned 429,137 shares of the company’s stock, valued at $33,738,750.94. The trade was a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 245,925 shares of company stock valued at $19,183,749 in the last quarter. Corporate insiders own 18.44% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Large investors have recently bought and sold shares of the stock. Capital World Investors lifted its stake in shares of Wayfair by 0.6% in the 4th quarter. Capital World Investors now owns 13,457,158 shares of the company’s stock worth $1,351,237,000 after acquiring an additional 82,584 shares during the period. Vanguard Group Inc. increased its stake in shares of Wayfair by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 9,634,757 shares of the company’s stock valued at $967,426,000 after acquiring an additional 72,707 shares during the period. Renaissance Technologies LLC increased its stake in shares of Wayfair by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,407,325 shares of the company’s stock valued at $542,950,000 after acquiring an additional 180,558 shares during the period. Janus Henderson Group PLC increased its stake in shares of Wayfair by 8.3% during the first quarter. Janus Henderson Group PLC now owns 3,866,708 shares of the company’s stock valued at $290,813,000 after acquiring an additional 296,233 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Wayfair by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,825,654 shares of the company’s stock worth $283,724,000 after purchasing an additional 8,598 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.