Wayfair (NYSE:W) Upgraded to Hold by Zacks Investment Research

Wayfair (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday, January 6th.

According to Zacks, “Wayfair is well positioned in the home automation retail market. Its high revenues and strong metrics growth is a big positive. The management remains confident about growth in markets, namely, Canada, U.K. and Germany as the company has made efforts to expand its house-brand offerings in these countries. However, we remain concerned about increasing advertising expenditure and its impact on profitability. Unhealthy competition and high vulnerability to exchange rate volatility also remain concerns. In past 12 months, the stock has outperformed the industry it belongs to.”

A number of other research firms have also commented on W. Piper Jaffray Companies reaffirmed a “buy” rating and set a $89.00 price target on shares of Wayfair in a research report on Friday, September 8th. Oppenheimer reissued a “buy” rating and issued a $88.00 target price on shares of Wayfair in a research report on Wednesday, September 13th. DA Davidson started coverage on Wayfair in a research report on Wednesday, September 13th. They issued a “neutral” rating and a $78.00 target price on the stock. Robert W. Baird restated a “hold” rating and issued a $73.00 price target on shares of Wayfair in a research note on Thursday, September 28th. Finally, KeyCorp restated a “hold” rating on shares of Wayfair in a research note on Friday, September 29th. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Wayfair currently has a consensus rating of “Buy” and an average target price of $77.64.

Wayfair (W) opened at $85.58 on Friday. Wayfair has a 1-year low of $35.36 and a 1-year high of $88.06. The company has a debt-to-equity ratio of 135.98, a current ratio of 1.19 and a quick ratio of 1.17.

Wayfair (NYSE:W) last released its earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.03. Wayfair had a negative return on equity of 658.45% and a negative net margin of 5.06%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted ($0.54) earnings per share. The company’s quarterly revenue was up 39.1% on a year-over-year basis. analysts anticipate that Wayfair will post -2.78 EPS for the current year.

In related news, CEO Niraj Shah sold 1,228 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $64.00, for a total transaction of $78,592.00. Following the sale, the chief executive officer now owns 61,642 shares in the company, valued at approximately $3,945,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael D. Fleisher sold 4,707 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $67.08, for a total value of $315,745.56. Following the sale, the chief financial officer now owns 55,591 shares in the company, valued at approximately $3,729,044.28. The disclosure for this sale can be found here. Insiders sold a total of 52,063 shares of company stock valued at $3,781,360 over the last ninety days. Insiders own 56.93% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. State of Wisconsin Investment Board bought a new stake in shares of Wayfair in the 2nd quarter valued at about $588,000. Bank of New York Mellon Corp boosted its position in shares of Wayfair by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 135,453 shares of the company’s stock valued at $10,413,000 after purchasing an additional 6,266 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Wayfair by 15.2% during the 2nd quarter. Legal & General Group Plc now owns 13,283 shares of the company’s stock valued at $1,021,000 after purchasing an additional 1,754 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Wayfair by 96.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after purchasing an additional 667 shares in the last quarter. Finally, Utah Retirement Systems bought a new stake in shares of Wayfair during the 2nd quarter valued at about $539,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

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About Wayfair

Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.

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