Liquidity Services (NASDAQ:LQDT) Price Target Raised to $37.00 at Craig Hallum

Liquidity Services (NASDAQ:LQDT) had its target price lifted by equities research analysts at Craig Hallum from $28.00 to $37.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Craig Hallum’s target price indicates a potential upside of 9.92% from the stock’s previous close.

Separately, Barrington Research reaffirmed an “outperform” rating and set a $27.00 target price on shares of Liquidity Services in a report on Tuesday.

Liquidity Services Price Performance

NASDAQ LQDT opened at $33.66 on Friday. The firm has a market capitalization of $1.03 billion, a PE ratio of 53.43 and a beta of 1.42. Liquidity Services has a 12 month low of $13.99 and a 12 month high of $34.89. The company’s 50 day simple moving average is $23.91 and its 200 day simple moving average is $22.02.

Institutional Investors Weigh In On Liquidity Services

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Essex Investment Management Co. LLC purchased a new position in shares of Liquidity Services during the third quarter valued at $2,749,000. Pacer Advisors Inc. increased its holdings in shares of Liquidity Services by 9.5% in the 3rd quarter. Pacer Advisors Inc. now owns 881,234 shares of the business services provider’s stock valued at $20,092,000 after purchasing an additional 76,794 shares during the period. Acadian Asset Management LLC lifted its position in shares of Liquidity Services by 15.7% in the second quarter. Acadian Asset Management LLC now owns 503,600 shares of the business services provider’s stock worth $10,060,000 after purchasing an additional 68,407 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Liquidity Services during the third quarter worth approximately $1,311,000. Finally, Access Investment Management LLC grew its position in Liquidity Services by 81.7% during the second quarter. Access Investment Management LLC now owns 82,335 shares of the business services provider’s stock valued at $1,645,000 after purchasing an additional 37,010 shares in the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.

Liquidity Services Company Profile

Liquidity Services, Inc provides e-commerce marketplaces, self-directed auction listing tools, and value-added services in the United States and internationally. The company operates through four segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio. Its marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and retail capital assets; GovDeals marketplace, which provides self-directed service solutions in which sellers list their own assets that enables local and state government entities, and commercial businesses located in the United States and Canada to sell surplus and salvage assets; and AllSurplus, a centralized marketplace that connects global buyer base with assets from across the network of marketplaces in a single destination.