Liquidity Services (LQDT) Lifted to Strong-Buy at Zacks Investment Research

Liquidity Services (NASDAQ:LQDT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $7.50 price target on the business services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.46% 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. “

Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of Liquidity Services from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. ValuEngine raised shares of Liquidity Services from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Barrington Research reissued a “buy” rating and issued a $10.00 price objective on shares of Liquidity Services in a research note on Monday, February 11th. Finally, TheStreet downgraded Liquidity Services from a “c” rating to a “d+” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $8.75.

Shares of NASDAQ:LQDT opened at $6.61 on Wednesday. The company has a market capitalization of $218.73 million, a P/E ratio of -13.22 and a beta of 1.08. Liquidity Services has a 52 week low of $5.17 and a 52 week high of $9.16.

Liquidity Services (NASDAQ:LQDT) last issued its quarterly earnings data on Wednesday, May 8th. The business services provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.10. The company had revenue of $37.36 million during the quarter, compared to the consensus estimate of $56.92 million. Liquidity Services had a negative net margin of 7.26% and a negative return on equity of 8.62%. On average, analysts forecast that Liquidity Services will post -0.38 EPS for the current fiscal year.

In other news, insider James M. Rallo sold 4,908 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $6.93, for a total transaction of $34,012.44. Following the transaction, the insider now directly owns 4,908 shares of the company’s stock, valued at $34,012.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 18.70% of the company’s stock.

Several hedge funds have recently modified their holdings of LQDT. BlackRock Inc. increased its position in shares of Liquidity Services by 7.0% during the third quarter. BlackRock Inc. now owns 3,861,127 shares of the business services provider’s stock worth $24,517,000 after purchasing an additional 253,142 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Liquidity Services by 5.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,507,396 shares of the business services provider’s stock worth $9,572,000 after purchasing an additional 72,451 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Liquidity Services by 4.3% during the third quarter. Vanguard Group Inc. now owns 1,581,353 shares of the business services provider’s stock worth $10,042,000 after purchasing an additional 65,153 shares in the last quarter. Vanguard Group Inc increased its position in shares of Liquidity Services by 4.3% during the third quarter. Vanguard Group Inc now owns 1,581,353 shares of the business services provider’s stock worth $10,042,000 after purchasing an additional 65,153 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Liquidity Services by 7.4% during the third quarter. Legal & General Group Plc now owns 55,942 shares of the business services provider’s stock worth $355,000 after purchasing an additional 3,865 shares in the last quarter. 64.56% of the stock is currently owned by institutional investors and hedge funds.

About Liquidity Services

Liquidity Services, Inc provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment offering approximately 500 product categories. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govdeals.com that enables local and state government entities, including city, county, and state agencies to sell surplus and salvage assets, as well as offers a suite of services that includes asset sales and marketing, and seller self-service; and auctiondeals.com, a self-service solution, which enable sellers list their own assets, and enable commercial businesses to sell surplus and salvage assets.

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