Overstock.com’s (OSTK) Buy Rating Reiterated at Maxim Group

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Maxim Group reissued their buy rating on shares of Overstock.com (NASDAQ:OSTK) in a research report released on Tuesday.

“OSTK stock was down significantly yesterday as the GSR investment did not close on December 15, and has been extended until February 28, 2019.”,” the firm’s analyst wrote.

OSTK has been the subject of a number of other reports. GARP Research initiated coverage on Overstock.com in a research note on Thursday, September 6th. They set a neutral rating for the company. ValuEngine cut Overstock.com from a buy rating to a hold rating in a research note on Friday, September 7th. BidaskClub cut Overstock.com from a sell rating to a strong sell rating in a research note on Tuesday, September 11th. Zacks Investment Research cut Overstock.com from a hold rating to a sell rating in a research note on Thursday, November 15th. Finally, DA Davidson cut Overstock.com to a buy rating and set a $58.00 price target for the company. in a research note on Tuesday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Overstock.com currently has a consensus rating of Hold and an average price target of $57.00.

Shares of Overstock.com stock opened at $12.74 on Tuesday. The firm has a market capitalization of $434.29 million, a price-to-earnings ratio of -7.04 and a beta of 1.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.01 and a current ratio of 1.09. Overstock.com has a 52 week low of $12.33 and a 52 week high of $89.80.

Overstock.com (NASDAQ:OSTK) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($1.55) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.69). The business had revenue of $440.60 million during the quarter, compared to the consensus estimate of $443.13 million. Overstock.com had a negative net margin of 14.21% and a negative return on equity of 105.90%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. On average, equities analysts expect that Overstock.com will post -6.19 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its stake in Overstock.com by 250.0% in the third quarter. Fifth Third Bancorp now owns 7,000 shares of the company’s stock valued at $194,000 after buying an additional 5,000 shares during the last quarter. National Asset Management Inc. purchased a new stake in Overstock.com in the third quarter valued at about $210,000. InterOcean Capital LLC purchased a new stake in Overstock.com in the third quarter valued at about $212,000. Vident Investment Advisory LLC purchased a new stake in Overstock.com in the second quarter valued at about $240,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Overstock.com by 30.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock valued at $241,000 after buying an additional 1,677 shares during the last quarter. Institutional investors own 61.20% of the company’s stock.

About Overstock.com

Overstock.com, Inc operates as an online retailer in the United States. It operates in two segments, Direct and Partner. The company offers home and garden products, including furniture, home decor, garden and patio, kitchen and dining, bedding, home improvement, housewares, and other related products; jewelry and watches; clothing and accessories; electronics and computers; artisan-crafted products; and other products.

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