Qurate Retail (NASDAQ:QRTEA – Get Rating) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Friday, Briefing.com reports. They currently have a $1.20 price objective on the stock, down from their previous price objective of $4.00. Bank of America‘s price target indicates a potential downside of 32.58% from the stock’s previous close.
QRTEA has been the subject of a number of other research reports. Citigroup upped their price objective on shares of Qurate Retail from $3.00 to $3.60 and gave the company a “neutral” rating in a research note on Thursday, August 25th. StockNews.com began coverage on shares of Qurate Retail in a research report on Wednesday, October 12th. They set a “sell” rating for the company.
Qurate Retail Price Performance
Qurate Retail stock traded down $0.48 during midday trading on Friday, reaching $1.78. 676,637 shares of the stock were exchanged, compared to its average volume of 5,202,997. The company’s fifty day moving average is $2.44 and its 200-day moving average is $3.09. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.62 and a current ratio of 1.14. The firm has a market cap of $680.16 million, a PE ratio of 6.00 and a beta of 1.78. Qurate Retail has a 52 week low of $1.90 and a 52 week high of $10.75.
Qurate Retail (NASDAQ:QRTEA – Get Rating) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.97 billion. Qurate Retail had a return on equity of 11.81% and a net margin of 0.89%. Qurate Retail’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. On average, sell-side analysts forecast that Qurate Retail will post 0.68 EPS for the current year.
Insider Buying and Selling at Qurate Retail
In other news, CAO Brian J. Wendling sold 9,268 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $3.20, for a total transaction of $29,657.60. Following the sale, the chief accounting officer now owns 75,316 shares of the company’s stock, valued at approximately $241,011.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.63% of the stock is owned by company insiders.
Hedge Funds Weigh In On Qurate Retail
A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Republic Investment Management Inc. lifted its holdings in Qurate Retail by 1.5% during the second quarter. First Republic Investment Management Inc. now owns 163,960 shares of the company’s stock valued at $471,000 after purchasing an additional 2,478 shares in the last quarter. Truist Financial Corp lifted its holdings in Qurate Retail by 27.7% during the first quarter. Truist Financial Corp now owns 12,952 shares of the company’s stock valued at $62,000 after purchasing an additional 2,812 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Qurate Retail by 4.2% during the first quarter. Teacher Retirement System of Texas now owns 80,044 shares of the company’s stock valued at $381,000 after purchasing an additional 3,232 shares in the last quarter. Corient Capital Partners LLC lifted its holdings in Qurate Retail by 19.3% during the second quarter. Corient Capital Partners LLC now owns 20,291 shares of the company’s stock valued at $58,000 after purchasing an additional 3,285 shares in the last quarter. Finally, AE Wealth Management LLC lifted its holdings in Qurate Retail by 4.8% during the first quarter. AE Wealth Management LLC now owns 78,417 shares of the company’s stock valued at $373,000 after purchasing an additional 3,612 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.
About Qurate Retail
Qurate Retail, Inc, together with its subsidiaries, engages in the video and online commerce industries in North America, Europe, and Asia. The company markets and sells various consumer products primarily through merchandise-focused televised shopping programs, Internet, and mobile applications. It also operates as an online retailer offering women’s, children’s, and men’s apparel; and other products, such as home, accessories, and beauty products through its app, mobile, and desktop applications.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Qurate Retail, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Qurate Retail wasn’t on the list.
While Qurate Retail currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: news.google.com
