Overstock.com Inc (NASDAQ:OSTK) Receives Average Recommendation of “Buy” from Analysts

Overstock.com Inc (NASDAQ:OSTK) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $41.00.

OSTK has been the topic of several recent analyst reports. ValuEngine upgraded shares of Overstock.com from a “sell” rating to a “hold” rating in a report on Monday. Maxim Group initiated coverage on Overstock.com in a research note on Tuesday, July 16th. They issued a “buy” rating and a $34.00 target price for the company. BidaskClub upgraded Overstock.com from a “hold” rating to a “buy” rating in a research report on Wednesday. DA Davidson reiterated a “buy” rating and set a $48.00 price objective on shares of Overstock.com in a research report on Tuesday, July 16th. Finally, Zacks Investment Research upgraded Overstock.com from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th.

In other Overstock.com news, Director Joseph J. Tabacco, Jr. purchased 25,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was purchased at an average cost of $10.48 per share, for a total transaction of $262,000.00. Following the transaction, the director now owns 66,033 shares in the company, valued at approximately $692,025.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Tabacco, Jr. purchased 40,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was acquired at an average price of $10.45 per share, with a total value of $418,000.00. Following the completion of the transaction, the director now owns 66,033 shares in the company, valued at approximately $690,044.85. The disclosure for this purchase can be found here. Insiders sold 907,455 shares of company stock valued at $10,742,632 over the last 90 days. 19.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Overstock.com by 8.6% in the fourth quarter. BlackRock Inc. now owns 1,619,841 shares of the company’s stock worth $22,000,000 after purchasing an additional 128,649 shares during the period. Lee Danner & Bass Inc. raised its holdings in shares of Overstock.com by 2.4% in the 2nd quarter. Lee Danner & Bass Inc. now owns 513,929 shares of the company’s stock valued at $6,989,000 after buying an additional 12,284 shares during the period. Northern Trust Corp raised its holdings in shares of Overstock.com by 6.5% in the 4th quarter. Northern Trust Corp now owns 300,519 shares of the company’s stock valued at $4,080,000 after buying an additional 18,240 shares during the period. Geode Capital Management LLC raised its holdings in shares of Overstock.com by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 255,410 shares of the company’s stock valued at $3,468,000 after buying an additional 40,314 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Overstock.com by 374.3% during the 2nd quarter. SG Americas Securities LLC now owns 201,541 shares of the company’s stock worth $2,741,000 after purchasing an additional 159,049 shares during the period. Hedge funds and other institutional investors own 60.69% of the company’s stock.

OSTK opened at $21.27 on Friday. Overstock.com has a fifty-two week low of $8.96 and a fifty-two week high of $48.00. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.19. The company has a market cap of $807.11 million, a price-to-earnings ratio of -3.43 and a beta of 2.34. The stock’s 50 day simple moving average is $15.53.

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

About Overstock.com

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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