Zacks: Liberty Tax Inc (TAX) Receives Consensus Recommendation of “Hold” from Brokerages

Liberty Tax Inc (NASDAQ:TAX) has earned an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Zacks has also assigned Liberty Tax an industry rank of 161 out of 255 based on the ratings given to its competitors.

A number of brokerages recently issued reports on TAX. ValuEngine downgraded Liberty Tax from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research raised Liberty Tax from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Finally, Barrington Research downgraded Liberty Tax from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 20th.

A number of hedge funds and other institutional investors have recently modified their holdings of TAX. Aviance Capital Partners LLC purchased a new stake in Liberty Tax in the first quarter valued at approximately $116,000. Bessemer Group Inc. purchased a new stake in shares of Liberty Tax during the fourth quarter worth approximately $132,000. Bailard Inc. purchased a new stake in shares of Liberty Tax during the fourth quarter worth approximately $184,000. Goldman Sachs Group Inc. purchased a new stake in shares of Liberty Tax during the fourth quarter worth approximately $260,000. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in shares of Liberty Tax by 119.1% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 30,900 shares of the business services provider’s stock worth $339,000 after purchasing an additional 16,800 shares during the last quarter. Institutional investors own 48.82% of the company’s stock.

Liberty Tax traded down $0.52, reaching $8.25, on Monday, according to MarketBeat. The company’s stock had a trading volume of 3,121 shares, compared to its average volume of 63,584. The company has a market capitalization of $118.93 million, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 0.66 and a beta of 0.72. Liberty Tax has a fifty-two week low of $7.75 and a fifty-two week high of $14.70.

About Liberty Tax

Liberty Tax, Inc, together with its subsidiaries, provides tax preparation services and solutions in the United States and Canada. The company also facilitates refund-based tax settlement financial products, such as refund transfer products, refund-based loans, and personal income tax refund discounting, as well as provides an online digital Do-It-Yourself tax program in the United States.

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