Overstock.com (NASDAQ:OSTK) has been assigned a $38.00 price target by research analysts at DA Davidson in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 66.96% from the company’s current price.
Several other research firms have also recently weighed in on OSTK. BidaskClub upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Zacks Investment Research raised shares of Overstock.com from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Maxim Group set a $40.00 price target on Overstock.com and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, ValuEngine raised Overstock.com from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Overstock.com currently has an average rating of “Buy” and a consensus target price of $39.00.
OSTK traded up $1.44 during midday trading on Monday, hitting $22.76. 9,201,650 shares of the company were exchanged, compared to its average volume of 3,562,223. The firm has a market capitalization of $803.18 million, a P/E ratio of -3.67 and a beta of 2.50. Overstock.com has a 1-year low of $8.96 and a 1-year high of $28.95. The firm’s 50 day moving average price is $19.53 and its 200-day moving average price is $16.08. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 0.22.
In other news, insider John Paul Knab sold 1,500 shares of Overstock.com stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $21.06, for a total transaction of $31,590.00. Following the completion of the transaction, the insider now directly owns 14,612 shares in the company, valued at $307,728.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan E. Johnson III bought 2,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were acquired 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 disclosure for this purchase can be found here. Over the last ninety days, insiders sold 3,000 shares of company stock valued at $67,817. Insiders own 19.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors bought a new stake in Overstock.com during the 2nd quarter worth approximately $41,000. Equitec Specialists LLC bought a new stake in Overstock.com during the second quarter worth $42,000. TRUE Private Wealth Advisors bought a new stake in Overstock.com during the second quarter worth $44,000. Joseph P. Lucia & Associates LLC purchased a new stake in Overstock.com in the 2nd quarter valued at $45,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Overstock.com by 78.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,655 shares of the company’s stock valued at $50,000 after buying an additional 1,608 shares during the last quarter. 56.61% of the stock is currently owned by institutional investors and hedge funds.
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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