Zacks Investment Research upgraded shares of Liquidity Services (NASDAQ:LQDT) from a hold rating to a buy rating in a research report released on Wednesday. Zacks Investment Research currently has $8.00 price target 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 equities research analysts have also issued reports on LQDT. Barrington Research raised Liquidity Services from a market perform rating to an outperform rating in a research note on Thursday, February 1st. ValuEngine lowered Liquidity Services from a sell rating to a strong sell rating in a research note on Thursday, February 8th.
Shares of Liquidity Services (NASDAQ:LQDT) opened at $7.30 on Wednesday. Liquidity Services has a 52 week low of $4.34 and a 52 week high of $8.15.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.19. The company had revenue of $61.14 million during the quarter, compared to analyst estimates of $65.42 million. Liquidity Services had a negative return on equity of 20.43% and a negative net margin of 12.29%. The firm’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) earnings per share. sell-side analysts expect that Liquidity Services will post -0.46 EPS for the current year.
A number of large investors have recently bought and sold shares of LQDT. Roumell Asset Management LLC boosted its stake in Liquidity Services by 39.9% during the third quarter. Roumell Asset Management LLC now owns 875,871 shares of the business services provider’s stock valued at $5,168,000 after buying an additional 249,611 shares during the period. Boston Partners purchased a new stake in Liquidity Services during the fourth quarter valued at about $934,000. Dimensional Fund Advisors LP raised its position in Liquidity Services by 15.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,038,515 shares of the business services provider’s stock valued at $6,127,000 after purchasing an additional 135,532 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in Liquidity Services during the fourth quarter valued at about $330,000. Finally, Anson Funds Management LP purchased a new stake in Liquidity Services during the fourth quarter valued at about $310,000. 67.66% of the stock is owned by institutional investors.
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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