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 released on Wednesday morning,Weiss Ratings reports.

A number of other equities analysts have also weighed in on the stock. Gordon Haskett upgraded shares of Wayfair from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 4th. Evercore ISI upped their target price on shares of Wayfair from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Stifel Nicolaus set a $68.00 target price on shares of Wayfair and gave the stock a “hold” rating in a research report on Tuesday, August 5th. UBS Group upped their target price on shares of Wayfair from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Wayfair in a research report on Wednesday, August 27th. Two 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 given a Sell rating to the company. According to MarketBeat.com, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.73.

Wayfair Price Performance

Shares of NYSE W opened at $74.24 on Wednesday. The firm has a fifty day moving average price of $81.26 and a 200-day moving average price of $55.88. The stock has a market cap of $9.63 billion, a PE ratio of -30.93 and a beta of 3.03. Wayfair has a 1 year low of $20.41 and a 1 year high of $91.77.

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

Insider Activity

In other news, insider Steven Conine sold 85,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $86.79, for a total value of $7,377,150.00. Following the completion of the sale, the insider owned 374,073 shares in the company, valued at approximately $32,465,795.67. This trade represents a 18.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Niraj Shah sold 85,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $86.79, for a total transaction of $7,377,150.00. Following the completion of the sale, the chief executive officer owned 374,137 shares of the company’s stock, valued at $32,471,350.23. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 923,857 shares of company stock valued at $71,090,564 in the last 90 days. Company insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in W. Alyeska Investment Group L.P. increased its stake in Wayfair by 681.8% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,462,651 shares of the company’s stock worth $174,969,000 after buying an additional 4,763,944 shares during the period. Southpoint Capital Advisors LP increased its stake in Wayfair by 42.9% in the 1st quarter. Southpoint Capital Advisors LP now owns 4,000,000 shares of the company’s stock worth $128,120,000 after buying an additional 1,200,000 shares during the period. AQR Capital Management LLC increased its stake in Wayfair by 197.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock worth $79,673,000 after buying an additional 1,033,865 shares during the period. Holocene Advisors LP increased its stake in Wayfair by 351.9% in the 2nd quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock worth $66,178,000 after buying an additional 1,007,676 shares during the period. Finally, Spruce House Investment Management LLC increased its stake in Wayfair by 37.6% in the 2nd quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock worth $153,420,000 after buying an additional 819,615 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.