Baird Maintains an 'Outperform' on Liquidity Services (LQDT); Despite Lumpiness, DoD Data Confirms Q3 Upside
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Price: $38.49 +1.58%
Rating Summary:
6 Buy, 0 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 0 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade LQDT Now!
Baird maintains an 'Outperform' on Liquidity Services (NASDAQ: LQDT) price target of $66.00.
Analyst, Colin Sebastian, said, "Government data is typically lumpy - sequential decline might be interpreted negatively. In terms of segment breakdown, government Surplus volume declined 15% sequentially in June, but increased 38% year-over-year. Scrap volume declined 13% sequentially and 21% year-over-year, with the overall Dept of Defense (DoD) business declining 15% sequentially and increasing 9% year-over-year. Importantly, the government business tends to be lumpy, and based on historical trends, we advise investors not to interpret a one-month decline as a red flag."
For an analyst ratings summary and ratings history on Liquidity Services click here. For more ratings news on Liquidity Services click here.
Shares of Liquidity Services closed at $41.01 yesterday, with a 52 week range of $19.89-$66.57.
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Analyst, Colin Sebastian, said, "Government data is typically lumpy - sequential decline might be interpreted negatively. In terms of segment breakdown, government Surplus volume declined 15% sequentially in June, but increased 38% year-over-year. Scrap volume declined 13% sequentially and 21% year-over-year, with the overall Dept of Defense (DoD) business declining 15% sequentially and increasing 9% year-over-year. Importantly, the government business tends to be lumpy, and based on historical trends, we advise investors not to interpret a one-month decline as a red flag."
For an analyst ratings summary and ratings history on Liquidity Services click here. For more ratings news on Liquidity Services click here.
Shares of Liquidity Services closed at $41.01 yesterday, with a 52 week range of $19.89-$66.57.
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