LPL Financial (NASDAQ:LPLA) Upgraded at StockNews.com

LPL Financial (NASDAQ:LPLA) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group reduced their target price on LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. Barclays increased their target price on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.31.

LPL Financial Price Performance

LPLA stock traded up $18.16 during midday trading on Thursday, reaching $282.18. The company had a trading volume of 1,597,650 shares, compared to its average volume of 737,386. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.38 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial has a 1-year low of $187.19 and a 1-year high of $291.67. The stock has a 50 day moving average price of $232.98 and a 200-day moving average price of $248.24.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The company 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 8.91% and a return on equity of 52.14%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.74 EPS. Equities research analysts expect that LPL Financial will post 15.71 earnings per share for the current year.

Hedge Funds Weigh In On LPL Financial

Hedge funds have recently modified their holdings of the business. Intech Investment Management LLC raised its position in LPL Financial by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock worth $11,057,000 after purchasing an additional 11,703 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of LPL Financial by 533.8% in the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 4,340 shares during the period. Swedbank AB bought a new stake in LPL Financial in the first quarter valued at approximately $3,648,000. Sei Investments Co. increased its position in LPL Financial by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock valued at $29,923,000 after purchasing an additional 21,481 shares during the period. Finally, Raymond James & Associates raised its holdings in LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after purchasing an additional 20,123 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.