Houlihan Lokey (NYSE:HLI) Price Target Cut to $178.00 by Analysts at Wells Fargo & Company

Houlihan Lokey (NYSE:HLI) had its price target dropped by equities research analysts at Wells Fargo & Company from $180.00 to $178.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.75% from the company’s previous close.

A number of other research analysts have also weighed in on HLI. Keefe, Bruyette & Woods reduced their target price on Houlihan Lokey from $172.00 to $170.00 and set a “market perform” rating for the company in a report on Monday. UBS Group boosted their price objective on shares of Houlihan Lokey from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley cut shares of Houlihan Lokey from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $171.00 to $200.00 in a research note on Monday, December 9th. Finally, StockNews.com lowered shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $173.40.

Houlihan Lokey Trading Up 1.1 %

Shares of NYSE HLI traded up $1.79 during midday trading on Tuesday, hitting $166.74. The company’s stock had a trading volume of 5,880 shares, compared to its average volume of 320,457. The stock has a fifty day moving average price of $179.93 and a 200 day moving average price of $163.09. The firm has a market capitalization of $11.59 billion, a price-to-earnings ratio of 34.10 and a beta of 0.69. Houlihan Lokey has a one year low of $112.84 and a one year high of $192.10.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.15. The firm had revenue of $574.96 million for the quarter, compared to the consensus estimate of $537.93 million. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 earnings per share. On average, equities research analysts predict that Houlihan Lokey will post 5.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HLI. Ashton Thomas Private Wealth LLC bought a new stake in Houlihan Lokey during the second quarter worth about $38,000. Wolff Wiese Magana LLC bought a new stake in Houlihan Lokey in the 3rd quarter worth approximately $38,000. First Horizon Advisors Inc. lifted its position in Houlihan Lokey by 81.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 441 shares of the financial services provider’s stock worth $70,000 after buying an additional 198 shares during the last quarter. Quarry LP purchased a new stake in Houlihan Lokey in the third quarter worth approximately $76,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in Houlihan Lokey by 69.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 678 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 277 shares during the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

About Houlihan Lokey

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.