Liquidity Services Price Target Cut to $14.00 (LQDT)
RBC Capital lowered their price target on shares of Liquidity Services (NASDAQ:LQDT) from $15.00 to $14.00 in a research note issued on Friday. RBC Capital’s price objective suggests a potential upside of 5.58% from the stock’s previous close.
Separately, analysts at Benchmark Co. downgraded shares of Liquidity Services from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. They now have a $16.00 price target on the stock, down previously from $29.00. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.83.
Liquidity Services (NASDAQ:LQDT) traded up 0.38% during mid-day trading on Friday, hitting $13.27. 577,108 shares of the company’s stock traded hands. Liquidity Services has a 52 week low of $12.05 and a 52 week high of $38.31. The stock has a 50-day moving average of $14. and a 200-day moving average of $18.83. The company has a market cap of $425.6 million and a price-to-earnings ratio of 12.46. Liquidity Services also saw unusually large options trading activity on Thursday. Stock investors bought 653 put options on the stock. This is an increase of 347% compared to the average volume of 146 put options.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.04. The company had revenue of $127.00 million for the quarter, compared to the consensus estimate of $122.90 million. During the same quarter last year, the company posted $0.44 earnings per share. Liquidity Services’s revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Liquidity Services will post $1.07 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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