Zacks Investment Research downgraded shares of Wayfair Inc. (NYSE:W) from a hold rating to a sell rating in a report released on Thursday.

According to Zacks, “Wayfair Inc. engages in the e-commerce business. It offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. The Company operates under the Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane brands. It offers products and services primarily in the United States. Wayfair LLC is headquartered in Boston, Massachusetts. “

Analyst Recommendations for Wayfair (NYSE:W)

A number of other research firms have also issued reports on W. Maxim Group set a $49.00 target price on Wayfair and gave the company a buy rating in a report on Tuesday, August 9th. Veritas Investment Research reissued a hold rating on shares of Wayfair in a report on Friday, August 5th. Vetr lowered Wayfair from a strong-buy rating to a buy rating and set a $48.00 target price on the stock. in a report on Wednesday, June 8th. Cowen and Company reissued a buy rating and issued a $61.00 target price on shares of Wayfair in a report on Tuesday, June 21st. Finally, William Blair began coverage on Wayfair in a report on Friday, June 10th. They issued a market perform rating on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Wayfair currently has an average rating of Hold and a consensus price target of $51.49.

Wayfair (NYSE:W) opened at 42.06 on Thursday. The firm’s market capitalization is $3.57 billion. The company has a 50-day moving average price of $40.27 and a 200 day moving average price of $40.38. Wayfair has a 1-year low of $28.85 and a 1-year high of $50.00.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.41) by $0.02. The firm had revenue of $755.70 million for the quarter, compared to analyst estimates of $782.43 million. Wayfair had a negative return on equity of 56.95% and a negative net margin of 4.20%. The company’s quarterly revenue was up 60.0% on a year-over-year basis. During the same period last year, the firm earned ($0.15) EPS. Analysts expect that Wayfair will post ($1.67) earnings per share for the current fiscal year.

In related news, Director Michael Andrew Kumin sold 500,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $38.23, for a total value of $19,115,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Steve Oblak sold 2,520 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $40.06, for a total value of $100,951.20. Following the completion of the transaction, the senior vice president now owns 95,592 shares of the company’s stock, valued at $3,829,415.52. The disclosure for this sale can be found here. 63.94% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in W. Samlyn Capital LLC acquired a new position in Wayfair during the first quarter valued at approximately $31,237,000. Metropolitan Life Insurance Co. NY raised its position in Wayfair by 1.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,548 shares of the company’s stock valued at $629,000 after buying an additional 269 shares during the last quarter. Legal & General Group Plc raised its position in Wayfair by 46.8% in the first quarter. Legal & General Group Plc now owns 2,957 shares of the company’s stock valued at $124,000 after buying an additional 943 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Wayfair during the first quarter valued at approximately $2,451,000. Finally, Geode Capital Management LLC raised its position in Wayfair by 3.5% in the first quarter. Geode Capital Management LLC now owns 154,037 shares of the company’s stock valued at $6,657,000 after buying an additional 5,210 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wayfair Company Profile

Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.

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