Zacks: Liberty Tax Inc (TAX) Receives Consensus Recommendation of “Strong Buy” from Brokerages
Liberty Tax Inc (NASDAQ:TAX) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus target price of $18.00 for the company, according to Zacks. Zacks has also given Liberty Tax an industry rank of 187 out of 265 based on the ratings given to its competitors.
Several brokerages have recently weighed in on TAX. ValuEngine lowered Liberty Tax from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded Liberty Tax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 8th.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 23rd. Investors of record on Friday, January 12th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, January 11th. This represents a $0.64 annualized dividend and a dividend yield of 5.57%. Liberty Tax’s dividend payout ratio (DPR) is presently 80.00%.
Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. lifted its position in shares of Liberty Tax by 6.6% during the 2nd quarter. Citigroup Inc. now owns 8,654 shares of the business services provider’s stock worth $112,000 after buying an additional 535 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Liberty Tax during the 3rd quarter worth approximately $160,000. OxFORD Asset Management LLP bought a new position in shares of Liberty Tax during the 3rd quarter worth approximately $184,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Liberty Tax during the 2nd quarter worth approximately $171,000. Finally, Nationwide Fund Advisors lifted its position in shares of Liberty Tax by 259.4% during the 3rd quarter. Nationwide Fund Advisors now owns 18,704 shares of the business services provider’s stock worth $269,000 after buying an additional 13,500 shares during the period. Institutional investors and hedge funds own 47.79% of the company’s stock.
About Liberty Tax
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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