Liberty Tax, Inc. (NASDAQ:TAX) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

Separately, Zacks Investment Research raised shares of Liberty Tax from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th.

Liberty Tax (TAX) traded down 0.74% during trading on Friday, reaching $13.35. The company’s stock had a trading volume of 16,392 shares. The firm has a 50 day moving average of $13.88 and a 200 day moving average of $14.03. The stock has a market capitalization of $185.32 million, a price-to-earnings ratio of 14.28 and a beta of 0.92. Liberty Tax has a 52 week low of $10.88 and a 52 week high of $16.20.

Liberty Tax (NASDAQ:TAX) last posted its quarterly earnings results on Wednesday, June 14th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.42 by $0.19. The business had revenue of $111.20 million during the quarter, compared to analyst estimates of $113.50 million. Liberty Tax had a return on equity of 15.84% and a net margin of 7.48%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.32 EPS. Analysts expect that Liberty Tax will post $1.25 EPS for the current year.

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In other Liberty Tax news, CEO John T. Hewitt sold 40,000 shares of Liberty Tax stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $12.31, for a total transaction of $492,400.00. Following the completion of the sale, the chief executive officer now owns 1,600,316 shares of the company’s stock, valued at approximately $19,699,889.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Piper sold 13,750 shares of Liberty Tax stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $12.93, for a total transaction of $177,787.50. Following the sale, the insider now directly owns 4,300 shares of the company’s stock, valued at approximately $55,599. The disclosure for this sale can be found here. Insiders have sold a total of 78,983 shares of company stock valued at $993,023 in the last three months. Company insiders own 40.40% of the company’s stock.

Several large investors have recently modified their holdings of TAX. Citigroup Inc. raised its stake in shares of Liberty Tax by 6.6% in the second quarter. Citigroup Inc. now owns 8,654 shares of the business services provider’s stock worth $112,000 after buying an additional 535 shares during the period. Palladium Partners LLC raised its stake in shares of Liberty Tax by 3.0% in the first quarter. Palladium Partners LLC now owns 11,542 shares of the business services provider’s stock worth $165,000 after buying an additional 334 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Liberty Tax during the second quarter worth about $171,000. Creative Planning raised its stake in shares of Liberty Tax by 14,900.0% in the second quarter. Creative Planning now owns 15,000 shares of the business services provider’s stock worth $194,000 after buying an additional 14,900 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Liberty Tax during the first quarter worth about $226,000. 45.95% of the stock is owned by institutional investors.

About Liberty Tax

Liberty Tax, Inc is the holding company for JTH Tax, Inc The Company is a provider of tax preparation services. The Company provides retail federal and state income tax preparation services and related tax settlement products in the United States and Canada. The Company’s tax preparation services and related tax settlement products are offered primarily through franchised locations.

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