Liquidity Services (LQDT) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Liquidity Services (NASDAQ:LQDT) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday, Zacks.com reports. The brokerage currently has $7.50 price objective on the business services provider’s stock.

According to Zacks, “Liquidity Services, Inc. employs innovative e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The company operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. Their superior service, unmatched scale and ability to deliver results enable us to forge trusted, long-term relationships with over 10,000 clients worldwide. “

A number of other equities research analysts have also commented on the stock. BidaskClub lowered shares of Liquidity Services from a buy rating to a hold rating in a report on Tuesday, January 22nd. ValuEngine lowered shares of Liquidity Services from a buy rating to a hold rating in a research note on Friday, February 8th. Barrington Research reaffirmed a buy rating and issued a $10.00 target price on shares of Liquidity Services in a research note on Monday, February 11th. Finally, TheStreet lowered shares of Liquidity Services from a c rating to a d+ rating in a research note on Monday, April 15th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $8.75.

Shares of LQDT traded down $0.04 during trading hours on Wednesday, hitting $6.25. The stock had a trading volume of 449 shares, compared to its average volume of 118,515. Liquidity Services has a 52 week low of $5.17 and a 52 week high of $9.16. The firm has a market cap of $218.73 million, a price-to-earnings ratio of -12.64 and a beta of 1.08.

Liquidity Services (NASDAQ:LQDT) last posted its earnings results on Wednesday, May 8th. The business services provider reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.10. Liquidity Services had a negative net margin of 7.26% and a negative return on equity of 8.62%. The business had revenue of $37.36 million for the quarter, compared to analyst estimates of $56.92 million. As a group, sell-side analysts predict that Liquidity Services will post -0.38 EPS for the current fiscal year.

In other news, insider James M. Rallo sold 4,908 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $6.93, for a total value of $34,012.44. Following the transaction, the insider now owns 4,908 shares of the company’s stock, valued at approximately $34,012.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.70% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in shares of Liquidity Services by 113.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,679 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 1,952 shares during the period. Bank of Montreal Can raised its position in shares of Liquidity Services by 81.7% in the 1st quarter. Bank of Montreal Can now owns 5,019 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 2,256 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Liquidity Services by 2.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 151,219 shares of the business services provider’s stock valued at $1,166,000 after acquiring an additional 2,985 shares during the period. Northern Trust Corp raised its position in shares of Liquidity Services by 0.9% in the 1st quarter. Northern Trust Corp now owns 357,801 shares of the business services provider’s stock valued at $2,759,000 after acquiring an additional 3,057 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Liquidity Services by 9.3% in the 4th quarter. Arizona State Retirement System now owns 40,752 shares of the business services provider’s stock valued at $251,000 after acquiring an additional 3,473 shares during the period. Institutional investors and hedge funds own 64.56% of the company’s stock.

Liquidity Services Company Profile

Liquidity Services, Inc provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment offering approximately 500 product categories. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govdeals.com that enables local and state government entities, including city, county, and state agencies to sell surplus and salvage assets, as well as offers a suite of services that includes asset sales and marketing, and seller self-service; and auctiondeals.com, a self-service solution, which enable sellers list their own assets, and enable commercial businesses to sell surplus and salvage assets.

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