Zacks Upgrades Liquidity Services to Neutral (LQDT)
Liquidity Services (NASDAQ:LQDT) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday. The firm currently has a $14.90 price objective on the stock. Zacks‘s price target would suggest a potential upside of 2.34% from the company’s current price.
LQDT has been the subject of a number of other recent research reports. Analysts at RBC Capital cut their price target on shares of Liquidity Services from $15.00 to $14.00 in a research note on Friday, August 8th. 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 equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.99.
Liquidity Services (NASDAQ:LQDT) traded up 0.62% on Wednesday, hitting $14.65. The stock had a trading volume of 149,932 shares. Liquidity Services has a 52-week low of $12.05 and a 52-week high of $38.31. The stock’s 50-day moving average is $14.18 and its 200-day moving average is $18.64. The company has a market cap of $434.6 million and a price-to-earnings ratio of 11.20.
Liquidity Services (NASDAQ:LQDT) last announced its earnings results on Thursday, August 7th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Liquidity Services will post $1.04 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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