Wayfair (NYSE:W) Downgraded by Gordon Haskett

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Gordon Haskett cut shares of Wayfair (NYSE:W) from an accumulate rating to a hold rating in a research note released on Thursday, October 31st, Briefing.com Automated Import reports.

Several other research firms have also recently weighed in on W. Piper Jaffray Companies set a $175.00 price objective on shares of Wayfair and gave the company a buy rating in a research report on Friday, July 19th. Zacks Investment Research upgraded shares of Wayfair from a sell rating to a hold rating and set a $138.00 price objective for the company in a research report on Saturday, September 14th. Berenberg Bank started coverage on shares of Wayfair in a research report on Friday, September 20th. They set a sell rating and a $100.00 price target for the company. Wolfe Research started coverage on shares of Wayfair in a research report on Tuesday, October 8th. They set a buy rating and a $145.00 price target for the company. Finally, Stifel Nicolaus upgraded shares of Wayfair from a hold rating to a buy rating and set a $150.00 price target for the company in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $138.79.

W stock traded up $0.40 during trading on Thursday, hitting $84.22. 2,375,509 shares of the stock traded hands, compared to its average volume of 1,961,432. Wayfair has a one year low of $76.60 and a one year high of $173.72. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of -15.01 and a beta of 1.86. The company has a 50 day simple moving average of $106.28 and a 200 day simple moving average of $130.71.

Wayfair (NYSE:W) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($2.23) earnings per share for the quarter, beating the consensus estimate of ($2.89) by $0.66. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.28 billion. The company’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.28) EPS. As a group, research analysts forecast that Wayfair will post -10.59 EPS for the current year.

In other Wayfair news, CFO Michael D. Fleisher sold 478 shares of Wayfair stock in a transaction that occurred on Sunday, September 15th. The shares were sold at an average price of $129.38, for a total value of $61,843.64. Following the transaction, the chief financial officer now owns 135,201 shares of the company’s stock, valued at $17,492,305.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edmond Macri sold 300 shares of Wayfair stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $124.63, for a total transaction of $37,389.00. Following the completion of the transaction, the insider now directly owns 950 shares in the company, valued at approximately $118,398.50. The disclosure for this sale can be found here. Insiders have sold a total of 34,093 shares of company stock worth $3,727,381 in the last three months. 33.86% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in W. CSat Investment Advisory L.P. bought a new stake in shares of Wayfair in the second quarter worth $25,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Wayfair in the second quarter worth $77,000. Macquarie Group Ltd. bought a new stake in shares of Wayfair in the second quarter worth $88,000. Personal Wealth Partners acquired a new position in Wayfair during the second quarter worth $107,000. Finally, Point72 Hong Kong Ltd acquired a new position in Wayfair during the second quarter worth $111,000. 75.91% of the stock is currently 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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