Liberty Tax Inc (TAX) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Liberty Tax Inc (NASDAQ:TAX) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price target of $18.00 for the company, according to Zacks. Zacks has also assigned Liberty Tax an industry rank of 106 out of 265 based on the ratings given to related companies.

Several research firms recently weighed in on TAX. Zacks Investment Research downgraded Liberty Tax from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine downgraded Liberty Tax from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st.

Liberty Tax (NASDAQ:TAX) opened at $9.92 on Friday. Liberty Tax has a 12-month low of $9.70 and a 12-month high of $16.19. The firm has a market capitalization of $124.29, a PE ratio of 26.11, a P/E/G ratio of 0.84 and a beta of 0.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.07 and a current ratio of 3.07.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 23rd. Investors of record on Friday, January 12th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, January 11th. This represents a $0.64 annualized dividend and a yield of 6.45%. Liberty Tax’s dividend payout ratio (DPR) is presently 168.42%.

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in shares of Liberty Tax by 6.6% in the 2nd quarter. Citigroup Inc. now owns 8,654 shares of the business services provider’s stock worth $112,000 after purchasing an additional 535 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Liberty Tax in the 3rd quarter worth about $160,000. Bessemer Group Inc. purchased a new position in shares of Liberty Tax in the 4th quarter worth about $132,000. OxFORD Asset Management LLP purchased a new position in shares of Liberty Tax in the 3rd quarter worth about $184,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Liberty Tax in the 2nd quarter worth about $171,000. Institutional investors own 47.93% of the company’s stock.

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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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