Zacks Investment Research upgraded shares of Liquidity Services (NASDAQ:LQDT) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $6.75 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. “
Several other research firms have also recently issued reports on LQDT. TheStreet upgraded Vectrus from a c+ rating to a b rating in a report on Monday, April 15th. BidaskClub cut RigNet from a sell rating to a strong sell rating in a report on Thursday, March 21st. Finally, ValuEngine cut Zogenix from a strong-buy rating to a buy rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Liquidity Services has an average rating of Buy and a consensus target price of $8.38.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.10. Liquidity Services had a negative return on equity of 8.62% and a negative net margin of 7.26%. The business had revenue of $37.36 million for the quarter, compared to analysts’ expectations of $56.92 million. Research analysts expect that Liquidity Services will post -0.39 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its holdings in Liquidity Services by 113.0% in the first 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 last quarter. Bank of Montreal Can boosted its holdings in Liquidity Services by 81.7% in the first 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 last quarter. 6 Meridian boosted its holdings in Liquidity Services by 4.7% in the second quarter. 6 Meridian now owns 57,691 shares of the business services provider’s stock valued at $351,000 after acquiring an additional 2,591 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Liquidity Services by 510.7% during the first quarter. BNP Paribas Arbitrage SA now owns 5,557 shares of the business services provider’s stock worth $43,000 after purchasing an additional 4,647 shares in the last quarter. Finally, Stone Ridge Asset Management LLC lifted its stake in shares of Liquidity Services by 23.0% during the fourth quarter. Stone Ridge Asset Management LLC now owns 31,094 shares of the business services provider’s stock worth $192,000 after purchasing an additional 5,819 shares in the last quarter. Hedge funds and other institutional investors own 67.76% of the company’s stock.
About Liquidity Services
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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