Liquidity Services Rating Lowered to Underperform at Merrill Lynch (LQDT)
Liquidity Services (NASDAQ:LQDT) was downgraded by analysts at Merrill Lynch from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Monday, American Banking and Market News reports.
LQDT has been the subject of a number of other recent research reports. Analysts at Bank of America Corp. downgraded shares of Liquidity Services from a “buy” rating to an “underperform” rating in a research note to investors on Monday. They now have a $31.00 price target on the stock, down previously from $45.00. Separately, analysts at Zacks upgraded shares of Liquidity Services from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 17th. They now have a $36.80 price target on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $35.73.
Shares of Liquidity Services (NASDAQ:LQDT) traded down 11.53% on Monday, hitting $28.99. 1,129,521 shares of the company’s stock traded hands. Liquidity Services has a 1-year low of $27.26 and a 1-year high of $44.40. The stock has a 50-day moving average of $32.72 and a 200-day moving average of $32.88. The company has a market cap of $920.3 million and a P/E ratio of 29.52.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.00 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.51 by $0.51.
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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