Qurate Retail Inc Series A (NASDAQ:QRTEA) Trading Up 11.9% Following Analyst Upgrade

Qurate Retail Inc Series A (NASDAQ:QRTEA)’s share price was up 11.9% during trading on Wednesday after Citigroup raised their price target on the stock from $6.90 to $9.00. Citigroup currently has a buy rating on the stock. Qurate Retail Inc Series A traded as high as $6.94 and last traded at $6.89. Approximately 12,976,116 shares were traded during mid-day trading, an increase of 195% from the average daily volume of 4,392,902 shares. The stock had previously closed at $6.16.

QRTEA has been the topic of a number of other research reports. BidaskClub upgraded Qurate Retail Inc Series A from a “hold” rating to a “buy” rating in a report on Friday, September 11th. Zacks Investment Research lowered Qurate Retail Inc Series A from a “hold” rating to a “sell” rating in a report on Thursday, September 3rd. Finally, UBS Group raised their target price on Qurate Retail Inc Series A from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $12.25.

Large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Qurate Retail Inc Series A by 16.0% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 636,683 shares of the company’s stock valued at $6,049,000 after purchasing an additional 87,959 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Qurate Retail Inc Series A by 250.1% in the second quarter. Principal Financial Group Inc. now owns 144,210 shares of the company’s stock valued at $1,370,000 after purchasing an additional 103,024 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Qurate Retail Inc Series A in the second quarter valued at $588,000. Nuveen Asset Management LLC grew its position in shares of Qurate Retail Inc Series A by 17.8% in the second quarter. Nuveen Asset Management LLC now owns 1,612,199 shares of the company’s stock valued at $15,315,000 after purchasing an additional 243,573 shares in the last quarter. Finally, Stephens Inc. AR grew its position in shares of Qurate Retail Inc Series A by 23.1% in the second quarter. Stephens Inc. AR now owns 98,790 shares of the company’s stock valued at $939,000 after purchasing an additional 18,522 shares in the last quarter. 87.80% of the stock is owned by institutional investors and hedge funds.

The company has a market capitalization of $2.87 billion, a PE ratio of -6.69, a PEG ratio of 1.81 and a beta of 1.36. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $10.57 and a two-hundred day moving average price of $8.39.

Qurate Retail Inc Series A (NASDAQ:QRTEA) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Qurate Retail Inc Series A had a negative net margin of 3.15% and a positive return on equity of 15.92%. As a group, equities analysts anticipate that Qurate Retail Inc Series A will post 2.06 EPS for the current fiscal year.

The firm also recently announced a dividend, which was paid on Monday, September 14th. Investors of record on Monday, August 31st were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, August 28th.

Qurate Retail Inc Series A Company Profile (NASDAQ:QRTEA)

Qurate Retail, Inc, through 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 live video programs, Websites, and mobile applications to 404 million households worldwide each day.

See Also: Relative Strength Index

Receive News & Ratings for Qurate Retail Inc Series A Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qurate Retail Inc Series A and related companies with MarketBeat.com's FREE daily email newsletter.