LPL Financial Holdings’ (LPLA) “Underweight” Rating Reiterated at Morgan Stanley
LPL Financial Holdings Inc. (NASDAQ:LPLA)‘s stock had its “underweight” rating reaffirmed by Morgan Stanley in a report issued on Monday. They presently have a $38.00 price objective on the financial services provider’s stock, up from their previous price objective of $35.00. Morgan Stanley’s price target indicates a potential downside of 10.69% from the stock’s previous close.
Several other research analysts have also recently issued reports on LPLA. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 price objective on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $42.00 price objective on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. Zacks Investment Research raised LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, July 4th. Nomura reaffirmed a “hold” rating and set a $46.00 price objective on shares of LPL Financial Holdings in a research report on Sunday, April 9th. Finally, Goldman Sachs Group, Inc. (The) raised LPL Financial Holdings from a “neutral” rating to a “conviction-buy” rating and upped their price objective for the stock from $44.00 to $47.00 in a research report on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $43.00.
Shares of LPL Financial Holdings (NASDAQ LPLA) traded up 0.07% during midday trading on Monday, reaching $42.58. The company had a trading volume of 58,653 shares. The company has a market capitalization of $3.85 billion, a P/E ratio of 20.37 and a beta of 1.82. The company’s 50 day moving average price is $40.77 and its 200-day moving average price is $39.50. LPL Financial Holdings has a 52 week low of $22.57 and a 52 week high of $43.79.
LPL Financial Holdings (NASDAQ:LPLA) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.30. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. LPL Financial Holdings had a return on equity of 25.04% and a net margin of 4.65%. LPL Financial Holdings’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. On average, equities research analysts predict that LPL Financial Holdings will post $2.46 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “LPL Financial Holdings’ (LPLA) “Underweight” Rating Reiterated at Morgan Stanley” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/07/10/lpl-financial-holdings-lpla-underweight-rating-reiterated-at-morgan-stanley.html.
In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the completion of the sale, the insider now directly owns 49,691 shares of the company’s stock, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.70% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of LPLA. Norges Bank acquired a new position in shares of LPL Financial Holdings during the fourth quarter worth about $42,914,000. AQR Capital Management LLC acquired a new position in shares of LPL Financial Holdings during the fourth quarter worth about $1,201,000. Elkfork Partners LLC acquired a new position in shares of LPL Financial Holdings during the first quarter worth about $190,000. Waratah Capital Advisors Ltd. acquired a new position in shares of LPL Financial Holdings during the first quarter worth about $379,000. Finally, State Street Corp increased its position in shares of LPL Financial Holdings by 1.7% in the fourth quarter. State Street Corp now owns 1,184,737 shares of the financial services provider’s stock worth $41,715,000 after buying an additional 20,324 shares during the period. 90.62% of the stock is owned by institutional investors and hedge funds.
About LPL Financial Holdings
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
Receive News & Ratings for LPL Financial Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.