Liquidity Services Inc. (LQDT) Reaches New 12-Month High at $9.71
Liquidity Services Inc. (NASDAQ:LQDT) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $9.71 and last traded at $9.71, with a volume of 51,528 shares trading hands. The stock had previously closed at $9.60.
Several brokerages recently commented on LQDT. Barrington Research reissued a “buy” rating on shares of Liquidity Services in a research report on Thursday, May 5th. Robert W. Baird reaffirmed a “hold” rating on shares of Liquidity Services in a research report on Sunday, May 8th. Zacks Investment Research cut Liquidity Services from a “buy” rating to a “hold” rating in a research report on Thursday, July 7th. Finally, Benchmark Co. raised their price objective on Liquidity Services from $5.50 to $6.50 and gave the company a “hold” rating in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Liquidity Services has a consensus rating of “Hold” and a consensus price target of $6.65.
The firm has a 50-day moving average price of $8.49 and a 200 day moving average price of $6.45. The stock’s market cap is $298.80 million.
Liquidity Services (NASDAQ:LQDT) last issued its earnings results on Thursday, August 4th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.16. The firm earned $85.18 million during the quarter, compared to the consensus estimate of $72.48 million. During the same period in the previous year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts expect that Liquidity Services Inc. will post ($0.09) EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Matarin Capital Management LLC purchased a new stake in shares of Liquidity Services during the fourth quarter worth approximately $1,905,000. Dimensional Fund Advisors LP raised its stake in shares of Liquidity Services by 36.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 441,412 shares of the company’s stock worth $2,869,000 after buying an additional 116,750 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Liquidity Services by 49.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 330,925 shares of the company’s stock worth $2,151,000 after buying an additional 109,025 shares during the last quarter.
Liquidity Services, Inc is an online auction marketplace for surplus and salvage assets. The Company operates through the operating auction marketplaces for sellers and buyers of surplus, salvage and scrap assets segment. The Company enables buyers and sellers to transact in an automated online auction environment offering over 500 product categories.
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