Zacks Investment Research upgraded shares of Liquidity Services, Inc. (NASDAQ:LQDT) from a sell rating to a hold rating in a research report released on Thursday morning.
According to Zacks, “Liquidity Services, Inc. is a leading online auction marketplace for wholesale, surplus and salvage assets. LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. LSI has developed and deployed highly successful online sales programs on a significant scale for clients including large corporations and government agencies to maximize the market reach and recovery value of surplus assets in a timely manner. “
Other equities analysts have also issued research reports about the company. Robert W. Baird reissued a neutral rating on shares of Liquidity Services in a report on Monday, July 3rd. ValuEngine upgraded shares of Liquidity Services from a strong sell rating to a sell rating in a research note on Friday, September 1st.
Shares of Liquidity Services (LQDT) opened at 5.90 on Thursday. Liquidity Services has a 52-week low of $5.50 and a 52-week high of $11.49. The stock has a 50 day moving average price of $5.99 and a 200-day moving average price of $6.82. The firm’s market cap is $185.87 million.
Liquidity Services (NASDAQ:LQDT) last posted its earnings results on Thursday, August 3rd. The business services provider reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.03. The firm had revenue of $65.50 million for the quarter, compared to analyst estimates of $79.56 million. Liquidity Services had a negative return on equity of 16.59% and a negative net margin of 27.52%. Liquidity Services’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. On average, equities analysts anticipate that Liquidity Services will post ($0.91) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in Liquidity Services by 22.0% in the second quarter. Renaissance Technologies LLC now owns 1,981,239 shares of the business services provider’s stock valued at $12,581,000 after acquiring an additional 357,240 shares in the last quarter. Vanguard Group Inc. boosted its stake in Liquidity Services by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,309,668 shares of the business services provider’s stock valued at $10,477,000 after acquiring an additional 71,139 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Liquidity Services by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 902,983 shares of the business services provider’s stock valued at $5,734,000 after acquiring an additional 110,643 shares in the last quarter. Robotti Robert boosted its stake in Liquidity Services by 4.5% in the second quarter. Robotti Robert now owns 415,194 shares of the business services provider’s stock valued at $2,488,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Liquidity Services by 4.8% in the second quarter. Northern Trust Corp now owns 347,062 shares of the business services provider’s stock valued at $2,204,000 after acquiring an additional 15,912 shares in the last quarter. Institutional investors own 67.63% of the company’s stock.
Liquidity Services Company Profile
Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.
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