Overstock.com (NASDAQ:OSTK) Given Buy Rating at DA Davidson

Overstock.com (NASDAQ:OSTK)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. They presently have a $48.00 price objective on the stock. DA Davidson’s target price would indicate a potential upside of 153.43% from the company’s previous close.

A number of other equities analysts have also weighed in on OSTK. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Maxim Group lowered Darden Restaurants from a “buy” rating to a “hold” rating and set a $126.00 price objective for the company. in a research note on Tuesday. Finally, BidaskClub lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.00.

Shares of OSTK opened at $18.94 on Tuesday. The stock’s 50-day moving average price is $12.60. Overstock.com has a one year low of $8.96 and a one year high of $48.00. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The firm has a market cap of $626.50 million, a PE ratio of -3.05 and a beta of 2.34.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.93) by ($0.25). Overstock.com had a negative return on equity of 85.28% and a negative net margin of 11.15%. The firm had revenue of $367.73 million for the quarter, compared to analyst estimates of $360.91 million. The business’s revenue was down 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.74) EPS. As a group, equities research analysts predict that Overstock.com will post -3.31 EPS for the current fiscal year.

In other Overstock.com news, CEO Patrick Michael Byrne sold 500,000 shares of Overstock.com stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.09, for a total transaction of $6,545,000.00. Following the completion of the transaction, the chief executive officer now owns 1,056,690 shares in the company, valued at approximately $13,832,072.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph J. Tabacco, Jr. acquired 40,000 shares of Overstock.com stock in a transaction on Monday, May 20th. The shares were bought at an average price of $10.45 per share, with a total value of $418,000.00. Following the purchase, the director now directly owns 66,033 shares in the company, valued at approximately $690,044.85. The disclosure for this purchase can be found here. Company insiders own 19.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Equitec Specialists LLC purchased a new position in shares of Overstock.com during the 2nd quarter worth approximately $42,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Overstock.com during the 1st quarter worth approximately $389,000. Pearl River Capital LLC increased its stake in shares of Overstock.com by 209.7% during the 1st quarter. Pearl River Capital LLC now owns 4,054 shares of the company’s stock worth $68,000 after purchasing an additional 2,745 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Overstock.com by 6.0% during the 1st quarter. Rhumbline Advisers now owns 29,533 shares of the company’s stock worth $491,000 after purchasing an additional 1,666 shares in the last quarter. Finally, Emerald Advisers LLC purchased a new position in shares of Overstock.com during the 1st quarter worth approximately $222,000. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Overstock.com Company Profile

Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home décor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website.

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