Liquidity Services (NASDAQ:LQDT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $8.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.59% 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. “
A number of other equities analysts have also recently issued reports on the company. ValuEngine cut Liquidity Services from a “sell” rating to a “strong sell” rating in a report on Thursday, February 8th. Barrington Research upgraded Liquidity Services from a “market perform” rating to an “outperform” rating in a report on Thursday, February 1st.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.19. The firm had revenue of $61.14 million for the quarter, compared to analysts’ expectations of $65.42 million. Liquidity Services had a negative return on equity of 20.43% and a negative net margin of 12.29%. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.22) EPS. equities analysts forecast that Liquidity Services will post -0.46 EPS for the current year.
Several institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC boosted its holdings in shares of Liquidity Services by 5.4% during the 2nd quarter. Teachers Advisors LLC now owns 42,038 shares of the business services provider’s stock worth $267,000 after buying an additional 2,172 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Liquidity Services by 15.3% in the 4th quarter. Rhumbline Advisers now owns 60,370 shares of the business services provider’s stock worth $293,000 after purchasing an additional 8,008 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Liquidity Services by 26.5% in the 4th quarter. Wells Fargo & Company MN now owns 43,522 shares of the business services provider’s stock worth $212,000 after purchasing an additional 9,107 shares in the last quarter. Northern Trust Corp lifted its holdings 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 worth $2,204,000 after purchasing an additional 15,912 shares in the last quarter. Finally, 22NW LP lifted its holdings in shares of Liquidity Services by 86.5% in the 3rd quarter. 22NW LP now owns 38,592 shares of the business services provider’s stock worth $228,000 after purchasing an additional 17,900 shares in the last quarter. Hedge funds and other institutional investors own 67.66% of the company’s stock.
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Liquidity Services Company Profile
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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