GARP Research upgraded shares of Overstock.com (NASDAQ:OSTK) from a neutral rating to a buy rating in a research note released on Thursday morning, The Fly reports.
OSTK has been the subject of several other research reports. Zacks Investment Research raised shares of Overstock.com from a hold rating to a buy rating and set a $38.00 price target for the company in a research note on Thursday, July 5th. ValuEngine downgraded shares of Overstock.com from a buy rating to a hold rating in a research note on Friday, September 7th. BidaskClub raised shares of Overstock.com from a sell rating to a hold rating in a research note on Saturday, July 7th. DA Davidson lifted their target price on shares of Overstock.com from $90.00 to $112.00 and gave the stock a buy rating in a research note on Friday, August 10th. Finally, Maxim Group assumed coverage on shares of Overstock.com in a research note on Monday, September 17th. They set a buy rating and a $75.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Overstock.com presently has an average rating of Hold and a consensus target price of $75.00.
OSTK stock opened at $26.48 on Thursday. The firm has a market cap of $803.57 million, a PE ratio of -14.63 and a beta of 1.39. Overstock.com has a 52-week low of $24.75 and a 52-week high of $89.80. The company has a quick ratio of 0.85, a current ratio of 0.91 and a debt-to-equity ratio of 0.02.
Overstock.com (NASDAQ:OSTK) last released its quarterly earnings results on Thursday, August 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by ($1.38). The business had revenue of $483.10 million for the quarter, compared to the consensus estimate of $474.15 million. Overstock.com had a negative net margin of 11.74% and a negative return on equity of 95.14%. Overstock.com’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) EPS. On average, research analysts predict that Overstock.com will post -5.43 EPS for the current year.
In related news, SVP John Paul Knab sold 2,000 shares of Overstock.com stock in a transaction on Monday, August 13th. The shares were sold at an average price of $39.75, for a total transaction of $79,500.00. Following the completion of the transaction, the senior vice president now owns 6,689 shares of the company’s stock, valued at $265,887.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick Byrne sold 147,499 shares of Overstock.com stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $25.65, for a total transaction of $3,783,349.35. Following the transaction, the chief executive officer now directly owns 1,050,023 shares of the company’s stock, valued at approximately $26,933,089.95. The disclosure for this sale can be found here. Insiders have sold 929,102 shares of company stock valued at $24,050,091 in the last three months. 24.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in OSTK. Suntrust Banks Inc. bought a new position in Overstock.com during the first quarter worth $207,000. SG Americas Securities LLC acquired a new stake in Overstock.com in the first quarter worth $223,000. Vident Investment Advisory LLC acquired a new stake in Overstock.com in the second quarter worth $240,000. Metropolitan Life Insurance Co. NY grew its holdings in Overstock.com by 30.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock worth $241,000 after purchasing an additional 1,677 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Overstock.com in the second quarter worth $274,000. 56.71% of the stock is owned by institutional investors and hedge funds.
Overstock.com, Inc operates as an online retailer in the United States. It operates in two segments, Direct and Partner. The company offers home and garden products, including furniture, home decor, garden and patio, kitchen and dining, bedding, home improvement, housewares, and other related products; jewelry and watches; clothing and accessories; electronics and computers; and other products.
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