BidaskClub Lowers Overstock.com (NASDAQ:OSTK) to Buy

BidaskClub lowered shares of Overstock.com (NASDAQ:OSTK) from a strong-buy rating to a buy rating in a research report sent to investors on Friday, BidAskClub reports.

A number of other equities research analysts have also issued reports on OSTK. Maxim Group set a $40.00 target price on Overstock.com and gave the stock a buy rating in a research report on Monday, August 26th. DA Davidson set a $38.00 target price on Overstock.com and gave the stock a buy rating in a research report on Monday, September 9th. ValuEngine raised Overstock.com from a hold rating to a buy rating in a research report on Saturday, August 10th. Finally, Zacks Investment Research raised Overstock.com from a sell rating to a hold rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $39.00.

Shares of Overstock.com stock opened at $14.97 on Friday. The stock’s fifty day moving average is $19.57 and its 200-day moving average is $16.12. The firm has a market capitalization of $549.45 million, a PE ratio of -2.41 and a beta of 2.50. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 0.22. Overstock.com has a 12-month low of $8.96 and a 12-month high of $29.75.



Overstock.com (NASDAQ:OSTK) last announced its earnings results on Thursday, August 8th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.23. The company had revenue of $373.70 million for the quarter, compared to analyst estimates of $376.66 million. Overstock.com had a negative return on equity of 66.84% and a negative net margin of 9.43%. Overstock.com’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.20) earnings per share. Analysts expect that Overstock.com will post -3.31 EPS for the current year.

In other Overstock.com news, CEO Jonathan E. Johnson III purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $15.98 per share, with a total value of $31,960.00. Following the completion of the transaction, the chief executive officer now owns 45,494 shares of the company’s stock, valued at $726,994.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Patrick Michael Byrne sold 1,056,690 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $16.32, for a total value of $17,245,180.80. The disclosure for this sale can be found here. Insiders have sold 2,564,813 shares of company stock worth $50,184,884 over the last three months. 19.40% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of OSTK. Captrust Financial Advisors acquired a new position in Overstock.com during the second quarter valued at $41,000. Equitec Specialists LLC purchased a new position in Overstock.com in the second quarter valued at about $42,000. TRUE Private Wealth Advisors purchased a new position in Overstock.com in the second quarter valued at about $44,000. Joseph P. Lucia & Associates LLC purchased a new position in Overstock.com in the second quarter valued at about $45,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Overstock.com by 78.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,655 shares of the company’s stock valued at $50,000 after purchasing an additional 1,608 shares in the last quarter. 56.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: What is the price-to-earnings growth (PEG) ratio?

Receive News & Ratings for Overstock.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Overstock.com and related companies with MarketBeat.com's FREE daily email newsletter.