Wayfair (NYSE:W) Sets New 12-Month Low – Should You Sell?

Wayfair Inc. (NYSE:W)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $30.86 and last traded at $30.94, with a volume of 232529 shares changing hands. The stock had previously closed at $32.10.

Analyst Ratings Changes

A number of research firms recently weighed in on W. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Jefferies Financial Group upgraded shares of Wayfair from a “hold” rating to a “buy” rating and raised their target price for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Bank of America cut their price target on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Canaccord Genuity Group decreased their target price on Wayfair from $76.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, BMO Capital Markets raised their price objective on Wayfair from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.81.

Wayfair Price Performance

The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -7.89 and a beta of 3.44. The business has a fifty day moving average price of $42.47 and a 200 day moving average price of $45.63.

Wayfair (NYSE:W) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion. As a group, sell-side analysts predict that Wayfair Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $45.75, for a total value of $1,372,500.00. Following the completion of the sale, the insider now owns 602,573 shares of the company’s stock, valued at $27,567,714.75. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jon Blotner sold 4,521 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $46.88, for a total transaction of $211,944.48. Following the sale, the insider now owns 63,568 shares in the company, valued at $2,980,067.84. The trade was a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,189 shares of company stock valued at $6,183,193 in the last ninety days. 26.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wayfair

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its holdings in shares of Wayfair by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock valued at $3,860,000 after buying an additional 383 shares during the last quarter. Employees Retirement System of Texas raised its holdings in shares of Wayfair by 28.5% in the 4th quarter. Employees Retirement System of Texas now owns 35,270 shares of the company’s stock worth $1,563,000 after purchasing an additional 7,813 shares during the period. Polar Asset Management Partners Inc. lifted its position in shares of Wayfair by 142.3% during the 4th quarter. Polar Asset Management Partners Inc. now owns 151,653 shares of the company’s stock valued at $6,721,000 after buying an additional 89,053 shares during the last quarter. Toronto Dominion Bank bought a new position in Wayfair during the fourth quarter worth about $1,536,000. Finally, Neo Ivy Capital Management purchased a new position in Wayfair in the 4th quarter valued at approximately $3,560,000. 89.67% of the stock is currently owned by institutional investors.

Wayfair Company Profile

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.