Zacks Investment Research lowered shares of Wayfair Inc. (NYSE:W) from a hold rating to a sell rating in a research note published on Thursday morning.

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)

Several other equities research analysts have also recently weighed in on W. Longbow Research began coverage on shares of Wayfair in a research report on Thursday, June 16th. They issued a neutral rating on the stock. Oppenheimer Holdings Inc. reaffirmed a sector perform rating on shares of Wayfair in a research note on Sunday, August 14th. Vetr lowered shares of Wayfair from a strong-buy rating to a buy rating and set a $46.67 price objective for the company. in a research note on Wednesday, June 22nd. Cowen and Company reaffirmed a buy rating and set a $61.00 price objective on shares of Wayfair in a research note on Tuesday, June 21st. Finally, Wedbush dropped their price objective on shares of Wayfair from $60.00 to $55.00 and set an outperform rating for the company in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $51.49.

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

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

In other news, Director Michael Andrew Kumin sold 500,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $38.23, for a total transaction of $19,115,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Great Hill Equity Partners Iv sold 300,000 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $38.10, for a total value of $11,430,000.00. The disclosure for this sale can be found here. 63.94% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Wayfair by 70.0% in the second quarter. BlackRock Inc. now owns 2,689 shares of the company’s stock worth $105,000 after buying an additional 1,107 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Wayfair during the second quarter valued at approximately $107,000. Legal & General Group Plc increased 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 in the last quarter. Teacher Retirement System of Texas increased its position in Wayfair by 42.4% in the second quarter. Teacher Retirement System of Texas now owns 3,905 shares of the company’s stock valued at $152,000 after buying an additional 1,163 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Wayfair during the first quarter valued at approximately $291,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

About Wayfair

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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