Liquidity Services (NASDAQ:LQDT) Hits New 52-Week High – Should You Buy?

Liquidity Services, Inc. (NASDAQ:LQDT)’s stock price reached a new 52-week high on Wednesday. The stock traded as high as $46.56 and last traded at $46.2530, with a volume of 11,534 shares. The stock had previously closed at $44.38.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Zacks Research lowered Liquidity Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Wall Street Zen raised Liquidity Services from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Barrington Research set a $50.00 target price on shares of Liquidity Services in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Liquidity Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Liquidity Services Stock Down 4.4%

The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 43.84 and a beta of 1.06. The business’s 50 day simple moving average is $43.09 and its 200-day simple moving average is $37.20.

Liquidity Services (NASDAQ:LQDT) last issued its earnings results on Thursday, August 6th. The business services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.34 by $0.11. Liquidity Services had a net margin of 6.79% and a return on equity of 17.60%. The company had revenue of $129.58 million during the quarter, compared to analysts’ expectations of $57.83 million. On average, analysts expect that Liquidity Services, Inc. will post 1.16 earnings per share for the current year.

Insider Transactions at Liquidity Services

In related news, EVP John Daunt sold 715 shares of Liquidity Services stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $42.75, for a total value of $30,566.25. Following the transaction, the executive vice president directly owned 38,086 shares of the company’s stock, valued at $1,628,176.50. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 28.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Liquidity Services

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Liquidity Services in the 2nd quarter valued at $140,508,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Liquidity Services during the 2nd quarter valued at $37,349,000. Rice Hall James & Associates LLC acquired a new stake in shares of Liquidity Services during the 2nd quarter valued at $23,804,000. Bank of New York Mellon Corp bought a new stake in Liquidity Services during the 2nd quarter worth $5,457,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Liquidity Services during the 2nd quarter worth $5,127,000. Institutional investors own 71.15% of the company’s stock.

About Liquidity Services

Liquidity Services, Inc operates online marketplaces and related services for buying and selling surplus, returned, and otherwise excess assets. The company connects governments, businesses, and other organizations with buyers seeking products ranging from consumer goods and industrial equipment to vehicles, heavy machinery, and other capital assets.

Its platforms include GovDeals, which serves public-sector sellers; Liquidation.com, which facilitates the sale of surplus and returned inventory; and Machinio, a marketplace focused on used equipment.