TD Ameritrade (NASDAQ:AMTD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $58.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.65% from the company’s previous close.
According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past six months. Further, the company has a decent earnings surprise. It surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. We remain cautious of elevated costs, which are likely to weigh on its financials. Nevertheless, its deal to acquire Scottrade is likely to be accretive to earnings per share (EPS) in double digits. Also, TD Ameritrade’s steady capital deployment activities and revenue growth are encouraging.”
Several other research analysts also recently weighed in on the stock. Deutsche Bank upped their target price on shares of TD Ameritrade from $49.00 to $53.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. BidaskClub downgraded shares of TD Ameritrade from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 7th. Jefferies Group reissued a “hold” rating and set a $46.00 price objective on shares of TD Ameritrade in a report on Friday, October 6th. Credit Suisse Group assumed coverage on shares of TD Ameritrade in a report on Thursday, November 30th. They set an “underperform” rating and a $45.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of TD Ameritrade from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $50.21.
TD Ameritrade (NASDAQ:AMTD) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. TD Ameritrade had a net margin of 23.72% and a return on equity of 15.91%. The firm had revenue of $983.00 million during the quarter, compared to the consensus estimate of $958.57 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. research analysts expect that TD Ameritrade will post 2.33 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank increased its position in shares of TD Ameritrade by 5.0% during the third quarter. Toronto Dominion Bank now owns 234,004,635 shares of the financial services provider’s stock worth $11,419,426,000 after acquiring an additional 11,082,105 shares during the period. Janus Henderson Group PLC boosted its stake in shares of TD Ameritrade by 2.3% during the third quarter. Janus Henderson Group PLC now owns 20,878,793 shares of the financial services provider’s stock valued at $1,018,884,000 after purchasing an additional 473,846 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of TD Ameritrade by 3.2% during the second quarter. Vanguard Group Inc. now owns 13,265,664 shares of the financial services provider’s stock valued at $570,291,000 after purchasing an additional 408,837 shares in the last quarter. FMR LLC boosted its stake in shares of TD Ameritrade by 103.8% during the second quarter. FMR LLC now owns 10,475,718 shares of the financial services provider’s stock valued at $450,351,000 after purchasing an additional 5,336,529 shares in the last quarter. Finally, RPTC Inc. bought a new position in shares of TD Ameritrade during the second quarter valued at approximately $402,937,000. 88.56% of the stock is currently owned by institutional investors.
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About TD Ameritrade
TD Ameritrade Holding Corporation is a provider of securities brokerage services and related technology-based financial services. The Company provides its services to retail investors, traders and independent registered investment advisors (RIAs). The Company provides its services through the Internet, a national branch network and relationships with RIAs.
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