LPL Financial (LPLA) Upgraded by BidaskClub to Hold

Share on StockTwits

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

Other research analysts also recently issued reports about the company. ValuEngine downgraded LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Zacks Investment Research downgraded LPL Financial from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $83.00 price objective on shares of LPL Financial in a research note on Friday, July 27th. Credit Suisse Group reduced their price objective on LPL Financial from $91.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Finally, Wells Fargo & Co increased their price objective on LPL Financial from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $78.18.

NASDAQ LPLA traded down $0.54 during mid-day trading on Thursday, hitting $65.15. The stock had a trading volume of 635,783 shares, compared to its average volume of 974,461. LPL Financial has a twelve month low of $48.13 and a twelve month high of $73.28. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $5.59 billion, a P/E ratio of 21.72, a P/E/G ratio of 0.83 and a beta of 1.59.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.08. LPL Financial had a return on equity of 41.69% and a net margin of 7.68%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.30 billion. As a group, sell-side analysts predict that LPL Financial will post 5.16 EPS for the current fiscal year.

In other LPL Financial news, Director Michelle Oroschakoff sold 6,000 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $67.11, for a total value of $402,660.00. Following the completion of the sale, the director now directly owns 19,811 shares in the company, valued at approximately $1,329,516.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC purchased a new position in shares of LPL Financial during the 2nd quarter worth $111,000. First Hawaiian Bank purchased a new position in shares of LPL Financial during the 3rd quarter worth $188,000. Contravisory Investment Management Inc. purchased a new position in shares of LPL Financial during the 2nd quarter worth $205,000. Calamos Advisors LLC purchased a new position in shares of LPL Financial during the 2nd quarter worth $206,000. Finally, GAM Holding AG purchased a new position in shares of LPL Financial during the 2nd quarter worth $228,000. Institutional investors and hedge funds own 94.47% 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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

Featured Story: How do investors use RSI to grade stocks?

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply