LPL Financial Holdings Receives “Sell” Rating from UBS AG (LPLA)
LPL Financial Holdings (NASDAQ:LPLA)‘s stock had its “sell” rating restated by research analysts at UBS AG in a report released on Thursday, ARN reports. They currently have a $33.00 target price on the stock. UBS AG’s target price suggests a potential downside of 13.77% from the stock’s previous close.
LPL Financial Holdings (NASDAQ:LPLA) traded down 1.14% during mid-day trading on Thursday, hitting $38.27. 760,786 shares of the company’s stock traded hands. LPL Financial Holdings has a one year low of $23.17 and a one year high of $39.80. The stock has a 50-day moving average of $38.04 and a 200-day moving average of $36.71. The company has a market cap of $4.072 billion and a price-to-earnings ratio of 24.56.
LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.14 million. During the same quarter last year, the company posted $0.49 earnings per share. LPL Financial Holdings’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that LPL Financial Holdings will post $2.32 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of LPL Financial Holdings (NASDAQ:LPLA) from $40.00 to $41.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at TheStreet downgraded shares of LPL Financial Holdings (NASDAQ:LPLA) from a “buy” rating to a “hold” rating in a research note to investors on Thursday, September 5th. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of LPL Financial Holdings (NASDAQ:LPLA) from $23.00 to $24.00 in a research note to investors on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. LPL Financial Holdings has a consensus rating of “Hold” and a consensus target price of $36.70.
LPL Financial Holdings Inc, formerly LPL Investment Holdings Inc, is a holding company. The Company provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions (NASDAQ:LPLA) in the United States of America.
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