Liquidity Services (NASDAQ:LQDT) Given Buy Rating at Barrington Research

Liquidity Services (NASDAQ:LQDT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barrington Research in a research report issued on Thursday, AnalystRatings.com reports. They presently have a $10.00 price objective on the business services provider’s stock. Barrington Research’s price objective would suggest a potential upside of 35.69% from the company’s previous close.

The analysts wrote, “We view this as a positive for the company in that the Scrap contract added volatility as it was exposed to commodity pricing and represented a small percentage of GMV at $17-20 million annually.””

A number of other equities research analysts have also weighed in on LQDT. Zacks Investment Research lowered Liquidity Services from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine lowered Liquidity Services from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, TheStreet lowered Liquidity Services from a “c” rating to a “d+” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $8.38.

LQDT traded up $0.21 during trading hours on Thursday, reaching $7.37. 73,028 shares of the company’s stock traded hands, compared to its average volume of 67,836. The company’s 50-day moving average price is $6.11. Liquidity Services has a 52-week low of $5.17 and a 52-week high of $9.16. The firm has a market capitalization of $218.40 million, a price-to-earnings ratio of -14.74 and a beta of 1.18.

Liquidity Services (NASDAQ:LQDT) last issued its earnings results on Thursday, August 1st. The business services provider reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02. The business had revenue of $56.88 million during the quarter, compared to analyst estimates of $52.17 million. Liquidity Services had a negative return on equity of 8.62% and a negative net margin of 7.26%. As a group, sell-side analysts expect that Liquidity Services will post -0.39 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its position in Liquidity Services by 113.0% during 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 purchasing an additional 1,952 shares in the last quarter. Bank of Montreal Can raised its position in Liquidity Services by 81.7% during the 1st quarter. Bank of Montreal Can now owns 5,019 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 2,256 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Liquidity Services by 510.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,557 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 4,647 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Liquidity Services during the 4th quarter valued at $45,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Liquidity Services in the 1st quarter worth $77,000. 67.73% of the stock is owned by institutional investors and hedge funds.

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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