Baird Lifts Numbers on Liquidity Services (LQDT) Following Strong Q2
Get Alerts LQDT Hot Sheet
Price: $17.70 +1.61%
Rating Summary:
5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Baird raised estimates and ts price target on Outperform-rated Liquidity Services (NASDAQ: LQDT) from $50 to $66 following the significant Q2 beat and raise with nice operating leverage.
The firm raised FY12 EPS from $1.40 to $1.65 and FY13 EPS from $1.63 to $2.05.
The firm sees more upside ahead:
"Following a strong start to the year, which is seasonally strong for retail liquidation markets, we believe that LSI will continue to benefit from positive momentum and growth, particularly in Commercial. Our website checks suggest Commercial increased 150%+ Y/Y in April. Management noted that new clients are ramping faster than expected and contributes to positive guidance for Q3. Overall our thesis remains intact - positive secular tailwinds are driving more online liquidations and new customer relationships."
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 $62.24 yesterday.
The firm raised FY12 EPS from $1.40 to $1.65 and FY13 EPS from $1.63 to $2.05.
The firm sees more upside ahead:
"Following a strong start to the year, which is seasonally strong for retail liquidation markets, we believe that LSI will continue to benefit from positive momentum and growth, particularly in Commercial. Our website checks suggest Commercial increased 150%+ Y/Y in April. Management noted that new clients are ramping faster than expected and contributes to positive guidance for Q3. Overall our thesis remains intact - positive secular tailwinds are driving more online liquidations and new customer relationships."
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 $62.24 yesterday.
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