Liberty Tax (TAX) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Liberty Tax (NASDAQ:TAX) from a hold rating to a sell rating in a research note published on Friday morning.

According to Zacks, “Liberty Tax, Inc. provides tax preparation services. Its principal operations are conducted through its subsidiary, JTH Tax, Inc. The company engages through its subsidiaries as a franchisor and operator of a system of income tax preparation. It facilitates its customer refund-based tax settlement financial products, such as refund anticipation loans, electronic refund checks, and personal income tax refund discounting. The company also offers online tax preparation services and finance to franchisees for the purchase of franchises, clusters of territories, company?owned stores and for working capital and equipment needs. Liberty Tax Inc., formerly known as JTH Holding, Inc., is headquartered in Virginia Beach, Virginia. “

Separately, ValuEngine lowered shares of Liberty Tax from a buy rating to a hold rating in a research note on Sunday, December 31st.

Liberty Tax (TAX) traded down $0.02 during trading on Friday, reaching $9.93. 77,082 shares of the company’s stock traded hands, compared to its average volume of 46,897. The firm has a market cap of $126.20, a price-to-earnings ratio of 12.41, a PEG ratio of 0.83 and a beta of 0.75. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.36. Liberty Tax has a 1 year low of $9.70 and a 1 year high of $16.19.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Friday, January 12th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend was Thursday, January 11th. Liberty Tax’s dividend payout ratio is 80.00%.

Hedge funds have recently bought and sold shares of the business. Seizert Capital Partners LLC grew its position in Liberty Tax by 69.9% in the third quarter. Seizert Capital Partners LLC now owns 56,607 shares of the business services provider’s stock worth $815,000 after acquiring an additional 23,286 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Liberty Tax by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 155,245 shares of the business services provider’s stock worth $2,010,000 after acquiring an additional 21,568 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Liberty Tax in the third quarter worth approximately $487,000. Bank of New York Mellon Corp grew its position in Liberty Tax by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 168,170 shares of the business services provider’s stock worth $2,178,000 after acquiring an additional 8,824 shares in the last quarter. Finally, Nationwide Fund Advisors grew its position in Liberty Tax by 259.4% in the third quarter. Nationwide Fund Advisors now owns 18,704 shares of the business services provider’s stock worth $269,000 after acquiring an additional 13,500 shares in the last quarter. 47.93% of the stock is owned by institutional investors.

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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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