Wayfair (NYSE:W – Get Rating) was downgraded by equities research analysts at Loop Capital from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, The Fly reports.
A number of other equities research analysts also recently weighed in on the stock. Piper Sandler dropped their price target on shares of Wayfair from $300.00 to $200.00 in a research note on Friday, February 18th. JPMorgan Chase & Co. dropped their price target on shares of Wayfair from $120.00 to $108.00 and set an “underweight” rating for the company in a research note on Friday, February 25th. Truist Financial dropped their price target on shares of Wayfair from $240.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Royal Bank of Canada decreased their price objective on shares of Wayfair from $158.00 to $137.00 and set a “sector perform” rating for the company in a report on Friday, February 25th. Finally, Bank of America cut shares of Wayfair from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $265.00 to $175.00 in a report on Thursday, December 16th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $223.75.
NYSE W opened at $129.52 on Wednesday. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of -94.54 and a beta of 2.90. The company’s fifty day moving average is $132.94 and its two-hundred day moving average is $198.31. Wayfair has a 52-week low of $100.57 and a 52-week high of $354.50.
Wayfair (NYSE:W – Get Rating) last issued its earnings results on Thursday, February 24th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.22). Wayfair had a negative net margin of 0.96% and a negative return on equity of 10.52%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the firm posted $0.44 earnings per share. Wayfair’s revenue was down 11.4% on a year-over-year basis. Sell-side analysts forecast that Wayfair will post -6.9 earnings per share for the current year.
In other news, COO Thomas Netzer sold 288 shares of Wayfair stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $115.77, for a total value of $33,341.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael D. Fleisher sold 5,292 shares of Wayfair stock in a transaction on Wednesday, January 19th. The shares were sold at an average price of $160.05, for a total transaction of $846,984.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,822 shares of company stock valued at $2,131,777. 27.53% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of W. Capital World Investors boosted its holdings in Wayfair by 195.1% during the 3rd quarter. Capital World Investors now owns 3,290,985 shares of the company’s stock worth $840,880,000 after acquiring an additional 2,175,692 shares during the last quarter. Vulcan Value Partners LLC raised its stake in shares of Wayfair by 30.8% during the 4th quarter. Vulcan Value Partners LLC now owns 3,680,883 shares of the company’s stock worth $699,258,000 after purchasing an additional 867,799 shares during the period. Stockbridge Partners LLC bought a new stake in shares of Wayfair during the 3rd quarter worth $200,126,000. Ruane Cunniff & Goldfarb L.P. raised its stake in shares of Wayfair by 32.5% during the 4th quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,154,288 shares of the company’s stock worth $599,220,000 after purchasing an additional 773,999 shares during the period. Finally, Norges Bank bought a new stake in shares of Wayfair during the 4th quarter worth $127,897,000. 85.38% of the stock is owned by institutional investors and hedge funds.
Wayfair Company Profile
Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the Company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through products sales in international sites.