Zacks Investment Research cut shares of Wayfair Inc. (NYSE:W) from a hold rating to a sell rating in a research report sent to investors on Thursday.

According to Zacks, “Wayfair Inc. engages in the e-commerce business. It offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. The Company operates under the Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane brands. It offers products and services primarily in the United States. Wayfair LLC is headquartered in Boston, Massachusetts. “

Analyst Recommendations for Wayfair (NYSE:W)

Several other research analysts have also recently issued reports on W. Goldman Sachs Group Inc. cut shares of Wayfair from a buy rating to a neutral rating and cut their target price for the stock from $46.00 to $43.00 in a report on Wednesday, August 10th. Veritas Investment Research restated a hold rating on shares of Wayfair in a report on Friday, August 5th. Pacific Crest restated an equal weight rating on shares of Wayfair in a report on Sunday, August 14th. Maxim Group started coverage on shares of Wayfair in a report on Thursday, May 26th. They issued a buy rating and a $50.00 target price on the stock. Finally, Vetr cut shares of Wayfair from a strong-buy rating to a buy rating and set a $42.28 target price on the stock. in a report on Friday, August 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $51.49.

Wayfair (NYSE:W) opened at 41.56 on Thursday. The company’s 50 day moving average is $40.33 and its 200-day moving average is $40.40. Wayfair has a 52-week low of $28.85 and a 52-week high of $50.00. The firm’s market cap is $3.53 billion.

Wayfair (NYSE:W) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.41) by $0.02. The business had revenue of $755.70 million for the quarter, compared to analysts’ expectations of $782.43 million. Wayfair had a negative return on equity of 56.95% and a negative net margin of 4.20%. The company’s revenue was up 60.0% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share. On average, equities analysts predict that Wayfair will post ($1.67) EPS for the current fiscal year.

In other Wayfair news, CEO Niraj Shah sold 1,997 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $40.10, for a total value of $80,079.70. Following the transaction, the chief executive officer now owns 1,997 shares of the company’s stock, valued at approximately $80,079.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Steven Conine sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $40.72, for a total value of $488,640.00. Following the completion of the transaction, the insider now directly owns 12,000 shares in the company, valued at approximately $488,640. The disclosure for this sale can be found here. Corporate insiders own 63.94% of the company’s stock.

A number of institutional investors have recently made changes to their positions in W. Royal Bank of Canada increased its position in shares of Wayfair by 142,724.0% in the second quarter. Royal Bank of Canada now owns 142,824 shares of the company’s stock valued at $5,570,000 after buying an additional 142,724 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Wayfair by 22.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 100,671 shares of the company’s stock valued at $3,927,000 after buying an additional 18,672 shares during the period. Legal & General Group Plc increased its position in shares of Wayfair by 28.8% in the second quarter. Legal & General Group Plc now owns 3,810 shares of the company’s stock valued at $149,000 after buying an additional 853 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Wayfair by 57.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,972 shares of the company’s stock valued at $896,000 after buying an additional 8,424 shares during the period. Finally, Whale Rock Capital Management LLC increased its position in shares of Wayfair by 14.9% in the second quarter. Whale Rock Capital Management LLC now owns 405,727 shares of the company’s stock valued at $15,823,000 after buying an additional 52,571 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Wayfair Company Profile

Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.

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