LPL Financial (NASDAQ:LPLA) Price Target Lowered to $282.00 at Jefferies Financial Group

LPL Financial (NASDAQ:LPLA) had its price objective cut by analysts at Jefferies Financial Group from $309.00 to $282.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 16.38% from the stock’s current price.

LPLA has been the topic of several other research reports. TD Cowen lifted their price objective on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company started coverage on LPL Financial in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Barclays dropped their price target on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $271.69.

LPL Financial Stock Performance

Shares of LPLA stock traded up $6.48 during trading on Friday, hitting $242.32. The company’s stock had a trading volume of 514,112 shares, compared to its average volume of 728,993. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The company has a market cap of $18.10 billion, a PE ratio of 18.33, a P/E/G ratio of 1.27 and a beta of 0.88. The business has a fifty day moving average of $216.29 and a 200-day moving average of $249.62. LPL Financial has a 52 week low of $187.19 and a 52 week high of $289.88.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.22. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the firm posted $3.94 EPS. As a group, research analysts anticipate that LPL Financial will post 15.88 earnings per share for the current year.

Hedge Funds Weigh In On LPL Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new position in LPL Financial in the 2nd quarter worth approximately $25,000. Key Financial Inc purchased a new stake in LPL Financial during the second quarter valued at about $28,000. Riverview Trust Co bought a new stake in LPL Financial during the first quarter worth about $30,000. Crewe Advisors LLC boosted its holdings in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.