StockNews.com Upgrades LPL Financial (NASDAQ:LPLA) to Hold

LPL Financial (NASDAQ:LPLA) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. Citigroup upped their target price on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley increased their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group reduced their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Trading Up 2.4 %

Shares of LPLA stock opened at $312.25 on Friday. LPL Financial has a 12-month low of $187.19 and a 12-month high of $312.50. The firm has a market cap of $23.38 billion, a P/E ratio of 23.48, a PEG ratio of 1.53 and a beta of 0.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average of $242.47 and a 200-day moving average of $249.55.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $3.74 EPS. Sell-side analysts anticipate that LPL Financial will post 16.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in LPL Financial in the 2nd quarter worth approximately $25,000. Key Financial Inc acquired a new stake in LPL Financial during the 2nd quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial in the 3rd quarter valued at $31,000. Paladin Wealth LLC acquired a new position in shares of LPL Financial in the 3rd quarter valued at $34,000. Finally, Crewe Advisors LLC lifted its stake 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 valued at $36,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

About LPL Financial

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.