Overstock.com Inc (OSTK) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Overstock.com Inc (NASDAQ:OSTK) has been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus target price of $110.00 for the company and are forecasting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also given Overstock.com an industry rank of 188 out of 265 based on the ratings given to its competitors.

A number of research analysts have issued reports on OSTK shares. BidaskClub lowered shares of Overstock.com from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. DA Davidson boosted their target price on shares of Overstock.com from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, January 8th.

In other Overstock.com news, insider Jonathan E. Johnson III sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $66.10, for a total transaction of $264,400.00. Following the completion of the transaction, the insider now directly owns 30,092 shares of the company’s stock, valued at approximately $1,989,081.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in shares of Overstock.com by 87.9% during the 3rd quarter. Wells Fargo & Company MN now owns 16,873 shares of the company’s stock worth $501,000 after buying an additional 7,893 shares in the last quarter. K.J. Harrison & Partners Inc bought a new stake in shares of Overstock.com in the 4th quarter worth approximately $511,000. EAM Investors LLC bought a new stake in shares of Overstock.com in the 3rd quarter worth approximately $1,991,000. ING Groep NV bought a new stake in shares of Overstock.com in the 4th quarter worth approximately $3,195,000. Finally, Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Overstock.com in the 4th quarter worth approximately $55,309,000. Institutional investors own 69.08% of the company’s stock.

Overstock.com (OSTK) traded down $1.50 during trading on Wednesday, reaching $59.60. 1,090,084 shares of the company’s stock were exchanged, compared to its average volume of 4,244,445. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.86 and a quick ratio of 0.78. The firm has a market cap of $1,530.00, a price-to-earnings ratio of -138.69 and a beta of 1.57. Overstock.com has a 52-week low of $13.75 and a 52-week high of $89.80.

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About Overstock.com

Overstock.com, Inc is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods.

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