Oppenheimer on Liquidity Services (LQDT): Recent Sell-off Offers Attractive Entry Point
Tweet Send to a FriendGet Alerts LQDT Hot Sheet
Price: $31.42 -0.06%
Rating Summary:
6 Buy, 0 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Rating Summary:
6 Buy, 0 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 2 | New: 2
Trade LQDT Now!
Oppenheimer maintains an 'Outperform' on Liquidity Services (NASDAQ: LQDT) price target of $75.00 (from $72.00).
Analyst, Jason Heldstein, said, "We believe the recent sell-off in LQDT shares creates a buying opportunity as GSS is treading above the high-end of guidance. Last week, LQDT shares declined 12% vs. a 1% gain for the S&P 500 and +0.5% for the NASDAQ. We believe the sell-off was caused by concerns over weaker May GovDeals GSS data, and the perception of difficult y/y Commercial comps in June. However, 1) the upside in the Commercial and Surplus segments more than offsets GovDeals and Scrap; and 2) last year's m/m trends for Commercial GSS June were impacted by the June 1 acquisition of TruckCenter."
Q3 EPS estimate raised from $0.47 to $0.49, FY12 from $1.64 to $1.66 and FY13 from $2.04 to $2.20.
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 $56.41 yesterday, with a 52 week range of $19.89-$66.57.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Jason Heldstein, said, "We believe the recent sell-off in LQDT shares creates a buying opportunity as GSS is treading above the high-end of guidance. Last week, LQDT shares declined 12% vs. a 1% gain for the S&P 500 and +0.5% for the NASDAQ. We believe the sell-off was caused by concerns over weaker May GovDeals GSS data, and the perception of difficult y/y Commercial comps in June. However, 1) the upside in the Commercial and Surplus segments more than offsets GovDeals and Scrap; and 2) last year's m/m trends for Commercial GSS June were impacted by the June 1 acquisition of TruckCenter."
Q3 EPS estimate raised from $0.47 to $0.49, FY12 from $1.64 to $1.66 and FY13 from $2.04 to $2.20.
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 $56.41 yesterday, with a 52 week range of $19.89-$66.57.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BofA/Merrill Lynch Upgrades Adobe (ADBE) to Buy
- Gabelli Downgrades Nexstar Broadcasting Group (NXST) to Hold
- UPDATE: Raymond James Downgrades Gevo, Inc. (GEVO) to Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Standard & Poor's
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
