Wayfair Inc. (W) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Wayfair Inc. (NYSE:W) from a hold rating to a sell rating in a research report sent to investors on Wednesday, November 8th.

According to Zacks, “Wayfair is an e-commerce giant operating in the home goods space. Its third-quarter loss was wider than the Zacks Consensus Estimate and revenues also missed the same. Higher-than-expected operating expenses impacted the company’s bottom line. However, management remains confident about growth in markets, namely, Canada, U.K. and Germany. The company made efforts to expand its house-brand offerings in these countries. Although we remain concerned about increasing advertising expenditure and its impact on profitability, Wayfair is well positioned in the home automation retail market. Also, its high revenues and strong metrics growth is a big positive. Year to date, the stock has outperformed the industry it belongs to.”

A number of other brokerages have also weighed in on W. Canaccord Genuity restated a buy rating on shares of Wayfair in a report on Tuesday, August 8th. Buckingham Research restated a buy rating and issued a $95.00 price objective on shares of Wayfair in a report on Thursday, August 10th. BidaskClub downgraded Wayfair from a buy rating to a hold rating in a research note on Friday, August 11th. Credit Suisse Group raised their target price on Wayfair from $75.00 to $78.00 and gave the stock a neutral rating in a research note on Wednesday, August 9th. Finally, KeyCorp reaffirmed a hold rating on shares of Wayfair in a research note on Friday, September 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $76.01.

Shares of Wayfair (NYSE:W) traded down $0.29 during trading hours on Wednesday, hitting $68.76. The stock had a trading volume of 890,646 shares, compared to its average volume of 1,540,906. Wayfair has a 52-week low of $33.60 and a 52-week high of $84.19. The company has a debt-to-equity ratio of 135.98, a quick ratio of 1.17 and a current ratio of 1.19.

Wayfair (NYSE:W) last announced its earnings results on Thursday, November 2nd. The company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted ($0.54) EPS. The business’s revenue was up 39.1% on a year-over-year basis. sell-side analysts expect that Wayfair will post -2.63 EPS for the current fiscal year.

In related news, SVP Steve Oblak sold 400 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $77.92, for a total transaction of $31,168.00. Following the completion of the transaction, the senior vice president now directly owns 120,621 shares in the company, valued at approximately $9,398,788.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Conine sold 41,200 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $67.87, for a total value of $2,796,244.00. Following the transaction, the insider now owns 260,270 shares of the company’s stock, valued at $17,664,524.90. The disclosure for this sale can be found here. Insiders have sold a total of 146,507 shares of company stock valued at $10,225,335 over the last three months. Corporate insiders own 56.93% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in W. Ameriprise Financial Inc. purchased a new position in shares of Wayfair in the 1st quarter valued at about $1,650,000. Parametric Portfolio Associates LLC boosted its stake in shares of Wayfair by 407.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 51,285 shares of the company’s stock valued at $2,077,000 after buying an additional 41,178 shares during the period. Legal & General Group Plc boosted its stake in shares of Wayfair by 12.8% in the 1st quarter. Legal & General Group Plc now owns 11,529 shares of the company’s stock valued at $466,000 after buying an additional 1,312 shares during the period. Vanguard Group Inc. boosted its stake in shares of Wayfair by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 2,605,201 shares of the company’s stock valued at $105,484,000 after buying an additional 113,613 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Wayfair by 10.0% in the 1st quarter. Geode Capital Management LLC now owns 233,243 shares of the company’s stock valued at $9,444,000 after buying an additional 21,119 shares during the period. Institutional investors and hedge funds own 70.06% 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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