LPL Financial (NASDAQ:LPLA) PT Raised to $309.00

LPL Financial (NASDAQ:LPLA) had its price objective hoisted by analysts at Morgan Stanley from $303.00 to $309.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 19.48% from the stock’s current price.

LPLA has been the topic of several other reports. Keefe, Bruyette & Woods reduced their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Barclays lowered their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Citigroup lowered their price objective on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Finally, TD Cowen increased their target price on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $277.77.

LPL Financial Trading Down 1.4 %

Shares of NASDAQ LPLA opened at $258.62 on Thursday. The firm has a 50 day moving average price of $225.63 and a two-hundred day moving average price of $248.32. The stock has a market cap of $19.32 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. LPL Financial has a 52-week low of $187.19 and a 52-week high of $289.88. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data 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 the consensus estimate of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. LPL Financial’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.94 earnings per share. As a group, equities analysts forecast that LPL Financial will post 15.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC lifted its stake in LPL Financial by 2.8% during the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 44 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings 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 purchasing an additional 56 shares during the last quarter. King Luther Capital Management Corp grew its position in LPL Financial by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock worth $1,637,000 after purchasing an additional 56 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in LPL Financial by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after buying an additional 60 shares during the last quarter. Finally, LVW Advisors LLC grew its stake in LPL Financial by 1.9% in the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock valued at $857,000 after purchasing an additional 61 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.