Zacks: Liberty Tax Inc (TAX) Given $18.00 Consensus Price Target by Brokerages

Liberty Tax Inc (NASDAQ:TAX) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus price objective of $18.00 for the company, according to Zacks. Zacks has also given Liberty Tax an industry rank of 137 out of 265 based on the ratings given to related companies.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Liberty Tax from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 8th. ValuEngine lowered Liberty Tax from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st.

A number of institutional investors have recently added to or reduced their stakes in TAX. Bank of New York Mellon Corp grew its position in Liberty Tax by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 168,170 shares of the business services provider’s stock valued at $2,178,000 after acquiring an additional 8,824 shares during the period. Citigroup Inc. grew its position in Liberty Tax by 6.6% during the second quarter. Citigroup Inc. now owns 8,654 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 535 shares during the period. Northern Trust Corp grew its position in Liberty Tax by 4.1% during the second quarter. Northern Trust Corp now owns 83,181 shares of the business services provider’s stock valued at $1,077,000 after acquiring an additional 3,282 shares during the period. Vanguard Group Inc. grew its position in Liberty Tax by 0.5% during the second quarter. Vanguard Group Inc. now owns 224,956 shares of the business services provider’s stock valued at $2,913,000 after acquiring an additional 1,131 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Liberty Tax by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 155,245 shares of the business services provider’s stock valued at $2,010,000 after acquiring an additional 21,568 shares during the period. Hedge funds and other institutional investors own 47.62% of the company’s stock.

Liberty Tax (TAX) traded up $0.27 during midday trading on Friday, hitting $10.20. The stock had a trading volume of 37,000 shares, compared to its average volume of 54,018. Liberty Tax has a 12 month low of $9.70 and a 12 month high of $16.19. The firm has a market capitalization of $125.88, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.83 and a beta of 0.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.07 and a current ratio of 3.07.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 23rd. Investors of record on Friday, January 12th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $0.64 annualized dividend and a yield of 6.27%. Liberty Tax’s payout ratio is currently 80.00%.

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Liberty Tax Company Profile

Liberty Tax, Inc is the holding company for JTH Tax, Inc The Company is a provider of tax preparation services. The Company provides retail federal and state income tax preparation services and related tax settlement products in the United States and Canada. The Company’s tax preparation services and related tax settlement products are offered primarily through franchised locations.

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