Wayfair (NYSE:W) Stock Moved Down to Hold by Zacks Research

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

A number of other equities research analysts have also weighed in on W. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $120.00 price target on shares of Wayfair in a report on Wednesday, August 5th. Wells Fargo & Company increased their price objective on shares of Wayfair from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $108.00 price target on shares of Wayfair in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wayfair in a report on Monday, September 14th. Finally, Rosenblatt Securities started coverage on shares of Wayfair in a report on Thursday, August 20th. They set a “buy” rating and a $125.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.61.

Wayfair Price Performance

Wayfair stock opened at $101.95 on Monday. Wayfair has a 12 month low of $55.60 and a 12 month high of $119.98. The company has a market cap of $13.46 billion, a price-to-earnings ratio of -41.44, a price-to-earnings-growth ratio of 3.54 and a beta of 2.99. The stock’s 50-day moving average is $99.70 and its 200-day moving average is $84.96.

Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Wayfair had a negative net margin of 2.49% and a negative return on equity of 3.40%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. Wayfair’s revenue for the quarter was up 7.5% on a year-over-year basis. Research analysts anticipate that Wayfair will post 0.93 EPS for the current year.

Insider Activity

In related news, CEO Niraj Shah sold 69,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the chief executive officer owned 360,137 shares in the company, valued at $37,223,760.32. This represents a 16.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Conine sold 69,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $103.36, for a total transaction of $7,131,840.00. Following the completion of the sale, the director directly owned 360,073 shares of the company’s stock, valued at approximately $37,217,145.28. This represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 288,893 shares of company stock valued at $29,795,521. Company insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Havemeyer Place LP purchased a new position in Wayfair in the 4th quarter worth about $39,000. IFP Advisors Inc lifted its holdings in shares of Wayfair by 79.2% in the second quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $75,000 after purchasing an additional 358 shares in the last quarter. ABS Direct Equity Fund LLC purchased a new stake in shares of Wayfair in the first quarter valued at $83,000. Parallel Advisors LLC boosted its position in shares of Wayfair by 18.6% in the first quarter. Parallel Advisors LLC now owns 1,661 shares of the company’s stock worth $125,000 after buying an additional 261 shares during the period. Finally, Flynn Zito Capital Management LLC boosted its position in shares of Wayfair by 6.4% in the first quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company’s stock worth $209,000 after buying an additional 168 shares during the period. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc is an e-commerce company specializing in home furnishings and household goods. Through its online platforms, the company offers furniture, décor, lighting, rugs, mattresses, appliances, kitchen and bath products, outdoor items, and other products for residential and commercial spaces.

Wayfair operates its flagship Wayfair brand alongside specialty retail brands such as Joss & Main, AllModern, Birch Lane, and Perigold. Its platform connects customers with a broad network of suppliers and provides product discovery, ordering, delivery, customer service, and related home-shopping services.