Etsy (ETSY) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of Etsy (NASDAQ:ETSY) from a buy rating to a hold rating in a research report report published on Saturday.

Several other equities analysts have also recently commented on ETSY. Zacks Investment Research raised shares of Etsy from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Friday, September 15th. Piper Jaffray Companies reissued a neutral rating and issued a $14.50 price target on shares of Etsy in a research report on Wednesday, October 4th. Royal Bank of Canada reissued a sector perform rating and issued a $18.00 price target (up previously from $16.00) on shares of Etsy in a research report on Thursday, November 2nd. Stifel Nicolaus reissued a hold rating and issued a $18.00 price target (up previously from $15.00) on shares of Etsy in a research report on Tuesday, November 7th. Finally, Ifs Securities reissued an outperform rating and issued a $22.00 price target (up previously from $18.00) on shares of Etsy in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $16.19.

Shares of Etsy (NASDAQ ETSY) opened at $19.35 on Friday. Etsy has a 1-year low of $9.41 and a 1-year high of $21.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. The firm has a market cap of $2,360.00 and a P/E ratio of 161.25.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Monday, November 6th. The specialty retailer reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.07. Etsy had a net margin of 3.77% and a return on equity of 9.19%. equities analysts expect that Etsy will post 0.38 earnings per share for the current fiscal year.

Etsy announced that its board has initiated a stock buyback program on Friday, November 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

In other news, Director Frederick R. Wilson sold 87,938 shares of Etsy stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $16.24, for a total transaction of $1,428,113.12. Following the completion of the sale, the director now directly owns 822,062 shares of the company’s stock, valued at approximately $13,350,286.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Etsy by 30.3% during the 2nd quarter. Royal Bank of Canada now owns 8,812 shares of the specialty retailer’s stock worth $133,000 after purchasing an additional 2,049 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Etsy by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,160 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 1,092 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Etsy during the 3rd quarter worth $192,000. Rehmann Capital Advisory Group purchased a new stake in shares of Etsy during the 3rd quarter worth $211,000. Finally, Amalgamated Bank lifted its position in shares of Etsy by 14.9% during the 2nd quarter. Amalgamated Bank now owns 14,788 shares of the specialty retailer’s stock worth $222,000 after purchasing an additional 1,920 shares during the last quarter. 74.40% of the stock is owned by institutional investors and hedge funds.

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Etsy Company Profile

Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.

Analyst Recommendations for Etsy (NASDAQ:ETSY)

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