Zacks: Overstock.com, Inc. (OSTK) Given Consensus Recommendation of “Strong Buy” by Brokerages
Shares of Overstock.com, Inc. (NASDAQ:OSTK) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price objective of $57.00 for the company and are predicting that the company will post ($0.09) earnings per share for the current quarter, according to Zacks. Zacks has also given Overstock.com an industry rank of 115 out of 265 based on the ratings given to its competitors.
OSTK has been the topic of several analyst reports. DA Davidson increased their target price on Overstock.com to $57.00 in a report on Wednesday, October 25th. BidaskClub raised Overstock.com from a “hold” rating to a “buy” rating in a report on Saturday, August 12th.
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In other Overstock.com news, insider Jonathan E. Johnson III sold 1,500 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $22.10, for a total value of $33,150.00. Following the completion of the transaction, the insider now directly owns 69,592 shares in the company, valued at $1,537,983.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carter Paul Lee sold 2,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $18.51, for a total value of $37,020.00. Following the completion of the transaction, the senior vice president now owns 8,958 shares of the company’s stock, valued at $165,812.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,000 shares of company stock valued at $935,270. 28.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. IndexIQ Advisors LLC raised its position in Overstock.com by 83.0% in the third quarter. IndexIQ Advisors LLC now owns 50,390 shares of the company’s stock valued at $1,497,000 after purchasing an additional 22,855 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Overstock.com by 55.6% in the third quarter. Penserra Capital Management LLC now owns 166,268 shares of the company’s stock valued at $4,938,000 after buying an additional 59,380 shares during the period. SpiderRock Advisors LLC acquired a new stake in shares of Overstock.com in the third quarter valued at about $145,000. Crow Point Partners LLC acquired a new stake in shares of Overstock.com in the third quarter valued at about $192,000. Finally, California State Teachers Retirement System increased its stake in shares of Overstock.com by 14.2% in the second quarter. California State Teachers Retirement System now owns 29,699 shares of the company’s stock valued at $484,000 after buying an additional 3,700 shares during the period. Hedge funds and other institutional investors own 43.51% of the company’s stock.
Shares of Overstock.com (NASDAQ:OSTK) traded up $0.85 on Friday, reaching $44.55. 2,090,000 shares of the company’s stock were exchanged, compared to its average volume of 2,230,000. The company has a quick ratio of 0.76, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. Overstock.com has a one year low of $13.50 and a one year high of $48.25.
Overstock.com (NASDAQ:OSTK) last released its earnings results on Thursday, August 3rd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.32). The company had revenue of $432.02 million for the quarter. Overstock.com had a negative return on equity of 6.36% and a negative net margin of 0.73%. research analysts anticipate that Overstock.com will post -0.48 earnings per share for the current year.
Overstock.com Company Profile
Overstock.com, Inc is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods.
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