Zacks Investment Research downgraded shares of Liquidity Services (NASDAQ:LQDT) from a buy rating to a hold rating in a report issued on Thursday, Zacks.com reports.
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. “
A number of other equities analysts have also commented on LQDT. ValuEngine lowered Liquidity Services from a buy rating to a hold rating in a research note on Thursday, April 11th. TheStreet lowered Liquidity Services from a c rating to a d+ rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Liquidity Services has an average rating of Buy and a consensus target price of $8.38.
Liquidity Services stock traded up $0.21 during midday trading on Thursday, reaching $7.37. 73,028 shares of the stock traded hands, compared to its average volume of 76,781. The business’s fifty day moving average price is $6.11. Liquidity Services has a 12 month low of $5.17 and a 12 month high of $9.16. The company has a market cap of $239.83 million, a PE ratio of -14.74 and a beta of 1.18.
Liquidity Services (NASDAQ:LQDT) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. Liquidity Services had a negative return on equity of 8.02% and a negative net margin of 7.50%. The company had revenue of $56.88 million during the quarter, compared to analyst estimates of $52.17 million. On average, analysts anticipate that Liquidity Services will post -0.39 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Strs Ohio boosted its stake in Liquidity Services by 7.5% in the second quarter. Strs Ohio now owns 89,200 shares of the business services provider’s stock valued at $543,000 after acquiring an additional 6,200 shares in the last quarter. 6 Meridian boosted its stake 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 in the last quarter. EAM Global Investors LLC acquired a new stake in shares of Liquidity Services during the first quarter worth about $1,185,000. PNC Financial Services Group Inc. boosted its stake in shares of Liquidity Services by 113.0% during the first quarter. PNC Financial Services Group Inc. now owns 3,679 shares of the business services provider’s stock worth $29,000 after buying an additional 1,952 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Liquidity Services by 81.7% during the first quarter. Bank of Montreal Can now owns 5,019 shares of the business services provider’s stock worth $38,000 after buying an additional 2,256 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.
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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