KeyCorp reaffirmed their overweight rating on shares of Etsy (NASDAQ:ETSY) in a research report report published on Wednesday morning. KeyCorp currently has a $33.00 price objective on the specialty retailer’s stock, up from their prior price objective of $28.00. KeyCorp also issued estimates for Etsy’s Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.39 EPS and FY2019 earnings at $0.52 EPS.
Several other analysts also recently weighed in on the company. Morgan Stanley downgraded Etsy from an equal weight rating to an underweight rating and set a $17.00 price objective for the company. in a report on Friday, January 12th. Zacks Investment Research downgraded Etsy from a hold rating to a sell rating in a report on Monday, January 22nd. BidaskClub downgraded Etsy from a buy rating to a hold rating in a report on Saturday, January 13th. Roth Capital upgraded Etsy from a neutral rating to a buy rating and lifted their price objective for the company from $20.50 to $28.00 in a report on Wednesday, February 28th. Finally, Stifel Nicolaus restated a hold rating and issued a $24.00 price objective (up from $18.00) on shares of Etsy in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Etsy currently has an average rating of Hold and a consensus price target of $21.58.
Etsy (ETSY) traded down $0.08 during mid-day trading on Wednesday, hitting $28.30. The company had a trading volume of 3,342,870 shares, compared to its average volume of 3,743,502. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.29 and a quick ratio of 4.29. The company has a market capitalization of $3,448.25, a P/E ratio of 42.24, a P/E/G ratio of 4.58 and a beta of 0.30. Etsy has a 12-month low of $9.60 and a 12-month high of $28.54.
Etsy declared that its Board of Directors has approved a share buyback program on Friday, November 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other Etsy news, Director Jonathan D. Klein sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $21.31, for a total value of $1,065,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its holdings in Etsy by 99.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,728 shares of the specialty retailer’s stock worth $137,000 after purchasing an additional 3,361 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in Etsy in the fourth quarter worth about $154,000. Royal Bank of Canada raised its holdings in Etsy by 30.3% in the second 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 in the last quarter. Keybank National Association OH bought a new position in Etsy in the fourth quarter worth about $205,000. Finally, Parametrica Management Ltd bought a new position in Etsy in the fourth quarter worth about $212,000. Institutional investors and hedge funds own 79.94% of the company’s stock.
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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.
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