Zacks Investment Research Upgrades Liquidity Services (LQDT) to Buy

Liquidity Services (NASDAQ:LQDT) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $7.75 price target on the business services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.32% from the stock’s previous close.

According to Zacks, “Liquidity Services, Inc. employs innovative e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The company operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. Their superior service, unmatched scale and ability to deliver results enable us to forge trusted, long-term relationships with over 10,000 clients worldwide. “

Several other equities analysts have also recently weighed in on the company. Barrington Research raised Liquidity Services from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 1st. ValuEngine cut Liquidity Services from a “sell” rating to a “strong sell” rating in a research note on Thursday.

Liquidity Services (NASDAQ:LQDT) traded up $0.10 during midday trading on Thursday, reaching $6.90. The company’s stock had a trading volume of 31,188 shares, compared to its average volume of 162,610. The firm has a market cap of $223.55, a P/E ratio of -6.88 and a beta of 1.07. Liquidity Services has a 12-month low of $4.34 and a 12-month high of $9.30.

Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.19. The firm had revenue of $61.14 million for the quarter, compared to the consensus estimate of $65.42 million. Liquidity Services had a negative return on equity of 20.43% and a negative net margin of 12.29%. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.22) EPS. analysts anticipate that Liquidity Services will post -0.46 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Staley Capital Advisers Inc. grew its stake in shares of Liquidity Services by 2.0% in the 3rd quarter. Staley Capital Advisers Inc. now owns 2,575,000 shares of the business services provider’s stock valued at $15,192,000 after buying an additional 50,000 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Liquidity Services by 22.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,981,239 shares of the business services provider’s stock valued at $12,581,000 after buying an additional 357,240 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Liquidity Services by 15.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,038,515 shares of the business services provider’s stock valued at $6,127,000 after buying an additional 135,532 shares in the last quarter. Roumell Asset Management LLC grew its stake in shares of Liquidity Services by 39.9% in the 3rd quarter. Roumell Asset Management LLC now owns 875,871 shares of the business services provider’s stock valued at $5,168,000 after buying an additional 249,611 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Liquidity Services by 4.8% in the 2nd quarter. Northern Trust Corp now owns 347,062 shares of the business services provider’s stock valued at $2,204,000 after buying an additional 15,912 shares in the last quarter. 65.95% of the stock is currently owned by institutional investors.

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About Liquidity Services

Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.

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