Wayfair’s (W) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of Wayfair (NYSE:W) in a research report report published on Friday morning,Weiss Ratings reports.

W has been the subject of a number of other research reports. Truist Financial boosted their target price on shares of Wayfair from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Jefferies Financial Group upped their price objective on shares of Wayfair from $91.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, September 19th. BMO Capital Markets reaffirmed a “market perform” rating and set a $68.00 price objective (up previously from $38.00) on shares of Wayfair in a research note on Tuesday, August 5th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $70.00 price objective (up previously from $50.00) on shares of Wayfair in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group upped their price objective on shares of Wayfair from $31.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Wayfair has an average rating of “Moderate Buy” and a consensus target price of $76.88.

Wayfair Stock Up 0.0%

W stock opened at $83.12 on Friday. The stock has a market capitalization of $10.78 billion, a P/E ratio of -34.63 and a beta of 3.03. The firm has a 50-day simple moving average of $82.48 and a 200-day simple moving average of $59.83. Wayfair has a 52 week low of $20.41 and a 52 week high of $91.77.

Wayfair (NYSE:W) last released its earnings results on Monday, August 4th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.54. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.11 billion. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. On average, analysts expect that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In other news, insider Steven Conine sold 120,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $82.17, for a total value of $9,860,400.00. Following the completion of the sale, the insider owned 169,073 shares of the company’s stock, valued at $13,892,728.41. This represents a 41.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Niraj Shah sold 120,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $82.17, for a total transaction of $9,860,400.00. Following the completion of the sale, the chief executive officer directly owned 169,137 shares of the company’s stock, valued at approximately $13,897,987.29. This trade represents a 41.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,200,000 shares of company stock valued at $97,390,637. Corporate insiders own 21.91% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its position in shares of Wayfair by 156.3% during the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Wayfair by 3.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,882 shares of the company’s stock worth $352,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC boosted its position in shares of Wayfair by 250.5% during the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Wayfair by 12.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,462 shares of the company’s stock worth $126,000 after purchasing an additional 270 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Wayfair by 5.5% during the 2nd quarter. Amalgamated Bank now owns 5,348 shares of the company’s stock worth $273,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 89.67% of the company’s stock.

About Wayfair

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.