Zacks Investment Research Lowers Wayfair (W) to Hold

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Zacks Investment Research lowered shares of Wayfair (NYSE:W) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “Wayfair is benefiting from its strengthening direct retail business across the United States and international regions. Further growing number of orders from new as well as repeated customers indicates the company’s solid momentum in the market. The company stays confident about its growth in markets, namely, Canada, U.K. and Germany as it has made strong advances to expand its house-brand offerings in these countries. Additionally, the launch of French language site and CastleGate facility in Canada remains positive. Notably, the stock has outperformed the industry it belongs to in the past 12 months. However, increasing advertising expenditures and mounting investment expenses pose a risk to margin expansion.”

A number of other brokerages have also issued reports on W. Oppenheimer lifted their target price on Wayfair from $120.00 to $140.00 and gave the stock an outperform rating in a research report on Friday, February 8th. Cowen lifted their target price on Wayfair from $120.00 to $130.00 and gave the stock a positive rating in a research report on Friday, December 7th. Citigroup began coverage on Wayfair in a research report on Friday, December 7th. They set a neutral rating and a $117.00 target price on the stock. Wedbush reissued a neutral rating and issued a $100.00 price objective (down from $105.00) on shares of Wayfair in a report on Monday, October 29th. Finally, Deutsche Bank began coverage on Wayfair in a report on Tuesday, January 29th. They issued a buy rating and a $124.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Wayfair currently has a consensus rating of Hold and a consensus target price of $125.35.

Shares of NYSE W opened at $119.77 on Monday. Wayfair has a 1 year low of $60.53 and a 1 year high of $151.20. The stock has a market cap of $10.73 billion, a PE ratio of -42.78 and a beta of 1.89.

In other Wayfair news, insider Steve Oblak sold 230 shares of Wayfair stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $110.66, for a total value of $25,451.80. Following the completion of the transaction, the insider now directly owns 116,036 shares in the company, valued at $12,840,543.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Niraj Shah sold 3,550 shares of Wayfair stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $93.02, for a total value of $330,221.00. Following the completion of the transaction, the chief executive officer now owns 44,380 shares of the company’s stock, valued at $4,128,227.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,593 shares of company stock valued at $12,607,019. 37.75% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of W. FMR LLC boosted its position in shares of Wayfair by 1.3% during the second quarter. FMR LLC now owns 8,772,877 shares of the company’s stock worth $1,041,867,000 after buying an additional 108,514 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Wayfair by 94.7% during the second quarter. Advisors Asset Management Inc. now owns 5,439 shares of the company’s stock worth $646,000 after buying an additional 2,645 shares during the period. Northern Trust Corp boosted its position in shares of Wayfair by 27.0% during the second quarter. Northern Trust Corp now owns 256,261 shares of the company’s stock worth $30,434,000 after buying an additional 54,414 shares during the period. United Services Automobile Association boosted its position in shares of Wayfair by 7.8% during the second quarter. United Services Automobile Association now owns 6,685 shares of the company’s stock worth $794,000 after buying an additional 483 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Wayfair by 14.4% during the third quarter. Bank of Montreal Can now owns 7,210 shares of the company’s stock worth $1,065,000 after buying an additional 905 shares during the period. Institutional investors own 72.05% of the company’s stock.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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