Liberty Tax (TAX) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Liberty Tax (NASDAQ:TAX) from a buy rating to a hold rating in a report published on Sunday, December 31st.

Separately, Zacks Investment Research raised Liberty Tax from a strong sell rating to a hold rating in a report on Wednesday, November 8th.

Liberty Tax (NASDAQ TAX) remained flat at $$11.55 during trading on Friday. The company’s stock had a trading volume of 41,400 shares, compared to its average volume of 65,771. Liberty Tax has a one year low of $9.90 and a one year high of $16.19. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.36. The firm has a market cap of $147.12, a PE ratio of 30.39 and a beta of 0.96.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 23rd. Investors of record on Friday, January 12th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.54%. The ex-dividend date is Thursday, January 11th. Liberty Tax’s dividend payout ratio (DPR) is presently 168.42%.

Several hedge funds have recently modified their holdings of the business. Citigroup Inc. grew its holdings in shares of Liberty Tax by 6.6% during the second quarter. Citigroup Inc. now owns 8,654 shares of the business services provider’s stock worth $112,000 after purchasing an additional 535 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Liberty Tax by 0.5% during the second quarter. Vanguard Group Inc. now owns 224,956 shares of the business services provider’s stock worth $2,913,000 after buying an additional 1,131 shares during the period. Seizert Capital Partners LLC boosted its stake in shares of Liberty Tax by 5.2% during the second quarter. Seizert Capital Partners LLC now owns 33,321 shares of the business services provider’s stock worth $432,000 after buying an additional 1,637 shares during the period. Northern Trust Corp boosted its stake in shares of Liberty Tax by 4.1% during the second quarter. Northern Trust Corp now owns 83,181 shares of the business services provider’s stock worth $1,077,000 after buying an additional 3,282 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Liberty Tax by 18.6% during the second quarter. Goldman Sachs Group Inc. now owns 22,607 shares of the business services provider’s stock worth $293,000 after buying an additional 3,552 shares during the period. 47.79% of the stock is currently owned by institutional investors.

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About Liberty Tax

Liberty Tax, Inc is the holding company for JTH Tax, Inc The Company is a provider of tax preparation services. The Company provides retail federal and state income tax preparation services and related tax settlement products in the United States and Canada. The Company’s tax preparation services and related tax settlement products are offered primarily through franchised locations.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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