Liquidity Services Given New $45.00 Price Target at Merrill Lynch (LQDT)
Merrill Lynch lifted their target price on shares of Liquidity Services (NASDAQ:LQDT) from $28.50 to $45.00 in a research note issued on Wednesday, American Banking News reports. The firm currently has a “buy” rating on the stock. Merrill Lynch’s price target would indicate a potential upside of 32.35% from the company’s current price.
A number of other firms have also recently commented on LQDT. Analysts at Bank of America Corp. upgraded shares of Liquidity Services (NASDAQ:LQDT) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday. Separately, analysts at Roth Capital raised their price target on shares of Liquidity Services (NASDAQ:LQDT) from $36.00 to $37.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Benchmark Co. raised their price target on shares of Liquidity Services (NASDAQ:LQDT) from $38.00 to $40.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock.
One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Liquidity Services currently has a consensus rating of “Buy” and a consensus target price of $35.99.
Shares of Liquidity Services (NASDAQ:LQDT) opened at 34.00 on Wednesday. Liquidity Services has a one year low of $27.26 and a one year high of $57.42. The stock has a 50-day moving average of $30.23 and a 200-day moving average of $32.62. The company has a market cap of $1.079 billion and a P/E ratio of 30.63.
Liquidity Services (NASDAQ:LQDT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.00 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.51 by $0.51. On average, analysts predict that Liquidity Services will post $1.75 earnings per share for the current fiscal year.
Liquidity Services, Inc is an auction marketplace for surplus and salvage assets. The Company enables buyers and sellers to transact in an automated online auction environment offering over 500 product categories.
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