Overstock.com (NASDAQ:OSTK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Overstock.com (NASDAQ:OSTK) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Overstock.com, Inc. is an online closeout retailer offering discount, brand-name merchandise for sale over the Internet. Their merchandise offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories. “

Several other equities research analysts have also recently weighed in on the stock. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Maxim Group set a $9.00 price target on shares of Pareteum and gave the stock a buy rating in a research report on Thursday, May 30th. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, June 20th. Finally, DA Davidson initiated coverage on shares of LYFT in a research report on Tuesday, March 19th. They issued a buy rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Overstock.com currently has a consensus rating of Hold and a consensus price target of $63.00.

OSTK stock opened at $19.01 on Thursday. Overstock.com has a one year low of $8.96 and a one year high of $48.00. The stock has a fifty day moving average of $11.83. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19.

Overstock.com (NASDAQ:OSTK) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($1.18) earnings per share for the quarter, missing the 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 business had revenue of $367.73 million during the quarter, compared to the consensus estimate of $360.91 million. During the same quarter in the prior year, the firm posted ($1.74) EPS. The company’s revenue for the quarter was down 17.4% on a year-over-year basis. On average, equities research analysts predict that Overstock.com will post -3.31 EPS for the current year.

In other Overstock.com news, Director Joseph J. Tabacco, Jr. purchased 40,000 shares of Overstock.com stock in a transaction that occurred on Monday, May 20th. The shares were bought at an average price of $10.45 per share, for a total transaction of $418,000.00. Following the completion of the transaction, the director now owns 66,033 shares of the company’s stock, valued at approximately $690,044.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Michael Byrne sold 407,055 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $10.29, for a total transaction of $4,188,595.95. Following the completion of the sale, the chief executive officer now owns 1,056,690 shares in the company, valued at approximately $10,873,340.10. The disclosure for this sale can be found here. Insiders own 19.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in OSTK. Investors Research Corp bought a new position in Overstock.com during the first quarter valued at $28,000. Equitec Specialists LLC bought a new position in Overstock.com during the second quarter valued at $42,000. Pearl River Capital LLC increased its position in Overstock.com by 209.7% during the first quarter. Pearl River Capital LLC now owns 4,054 shares of the company’s stock valued at $68,000 after acquiring an additional 2,745 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Overstock.com by 303.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock valued at $97,000 after acquiring an additional 5,392 shares during the last quarter. Finally, American International Group Inc. increased its position in Overstock.com by 10.4% during the fourth quarter. American International Group Inc. now owns 15,178 shares of the company’s stock valued at $206,000 after acquiring an additional 1,429 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

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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