LPL Financial (NASDAQ:LPLA) PT Lowered to $271.00

LPL Financial (NASDAQ:LPLA) had its price objective reduced by The Goldman Sachs Group from $289.00 to $271.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 17.39% from the stock’s current price.

A number of other research analysts also recently weighed in on LPLA. JPMorgan Chase & Co. increased their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Wells Fargo & Company began coverage on shares of 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. JMP Securities boosted their target price on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research report on Friday, July 26th. UBS Group decreased their price target on shares of LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, Barclays cut their price objective on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $275.69.

LPL Financial Stock Performance

Shares of LPLA stock opened at $230.86 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average price of $215.72 and a 200-day moving average price of $250.53. LPL Financial has a 52 week low of $187.19 and a 52 week high of $289.88. The firm has a market capitalization of $17.25 billion, a PE ratio of 17.44, a P/E/G ratio of 1.27 and a beta of 0.88.

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

Institutional Trading of LPL Financial

Large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of LPL Financial in the second quarter valued at $25,000. Key Financial Inc bought a new stake in shares of LPL Financial in the 2nd quarter worth about $28,000. Riverview Trust Co purchased a new stake in shares of LPL Financial during the 1st quarter valued at about $30,000. Crewe Advisors LLC lifted 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 valued at $36,000 after acquiring an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its stake in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 56 shares during the last quarter. 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.