Liberty Tax (OTCMKTS:TAXA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

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. “

A number of other research firms also recently issued reports on TAXA. ValuEngine downgraded shares of Liberty Tax from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Barrington Research reaffirmed a “hold” rating on shares of Liberty Tax in a report on Sunday, June 23rd.

Shares of TAXA stock opened at $11.95 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.93 and a current ratio of 1.93. The company has a market capitalization of $168.78 million, a price-to-earnings ratio of 18.97 and a beta of 0.47. Liberty Tax has a 52 week low of $8.85 and a 52 week high of $12.50. The company has a 50-day simple moving average of $11.58 and a 200 day simple moving average of $10.58.

Liberty Tax (OTCMKTS:TAXA) last posted its quarterly earnings data on Thursday, June 20th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.10. The firm had revenue of $85.72 million during the quarter, compared to the consensus estimate of $86.00 million. Liberty Tax had a negative net margin of 1.63% and a positive return on equity of 10.57%. Sell-side analysts forecast that Liberty Tax will post 0.5 EPS for the current year.

In other news, major shareholder Vintage Capital Management Llc purchased 6,910,944 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was bought at an average price of $12.00 per share, with a total value of $82,931,328.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 50.90% of the company’s stock.

Liberty Tax Company Profile

Liberty Tax, Inc, through its subsidiaries, provides tax preparation services in the United States and Canada. The company also facilitates refund-based tax settlement financial products, such as refund transfer products 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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