Coinstar Inc. ( CSTR) shares appear to have Netflix syndrome this morning.
FORBES: Coinstar Hikes DVD Rental Prices 20%; Shares Plummet in Response
My primary hesitation with the CSTR daily chart is how far it has run this year.
In this context, investors should view our upgrade of CSTR to Overweight as a 6-month long trade.
Other competitors in the services sector include: Coinstar (CSTR), DISH Network (DISH), and Time Warner (TWX).
Turns out, it was not an especially merry Christmas for Coinstar (CSTR).
FORBES: Redbox Lays An Egg: Coinstar Shares Swoon On Weak Q4
For a possible entry in CSTR, I want to look at the daily chart over the past ten months.
Coinstar (NASDAQ: CSTR), which owns the Redbox rental kiosks, dropped more than four percent shortly after the announcement.
FORBES: Will Netflix Still be Around When Disney Comes to Town?
Coinstar (CSTR) shares are taking a licking this morning after J.
FORBES: Coinstar: 2011 Estimates Too High, Sell The Stock, Analyst Says
So CSTR is currently trading for 14.6x price-to-cash earnings, another sign that the stock remains undervalued in spite of the recent rally.
As if hitting its stride in all business units, CSTR is now rolled out with enough exposure to capitalize on economies of scale.
The top pickers also bought up shares of Coinstar (nasdq: CSTR - news - people ) a small Bellevue, Wash.
Coinstar ( CSTR), which in addition to its namesake coin-counting kiosks, operates the fast-growing Redbox DVD rental sites, has been consolidating price gains since mid-May.
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Redbox Automated Retail, LLC, a wholly-owned subsidiary of Coinstar, Inc. (Nasdaq: CSTR), offers new release DVD rentals through its network of conveniently located, self-service kiosks.
ENGADGET: Redbox deal with Fox puts a 4 week hold on new releases, starting with Avatar
Specifically, Market Intellisearch reports that 549, 896 block trades have changed hands on CSTR so far today, with buying volume totaling a hefty 684, 602 shares.
The big winner overnight is Coinstar ( CSTR), which is up almost 20% after seeing a dramatic rise in revenues and EPS that handily surpassed analyst expectations.
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On the technical front, CSTR appears poised to open roughly 7.5% lower this morning, placing the shares just above potential support at their 200-day moving average.
FORBES: Coinstar Hikes DVD Rental Prices 20%; Shares Plummet in Response
Since going public in late 1997 CSTR has seen some ups and downs in its prices, but on the weekly chart you can see that CSTR is very close to all time highs.
For example, at the low end of the estimate CSTR would trade for .97x sales per share, while the market has historically been willing to pay between 1.14x and 2.03x times sales per share.
While Netflix (NFLX) gets most of the headlines, one of the most remarkable developments in the video rental business over the last few years has been the amazing growth of Redbox , the video rental kiosk business run by Coinstar (CSTR), a company that used to be known for its coin-counting machines.
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