Nomura Raises LPL Financial Holdings Inc. (LPLA) Price Target to $58.00
LPL Financial Holdings Inc. (NASDAQ:LPLA) had its price target hoisted by equities research analysts at Nomura from $53.00 to $58.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the financial services provider’s stock. Nomura’s price target points to a potential upside of 25.73% from the stock’s current price.
Several other equities analysts have also recently commented on the stock. SunTrust Banks, Inc. raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and raised their price target for the company from $49.00 to $55.00 in a research report on Wednesday. BidaskClub cut shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Morgan Stanley reaffirmed an “underweight” rating and set a $38.00 price objective (up from $35.00) on shares of LPL Financial Holdings in a research report on Monday, July 10th. 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. Finally, Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $44.55.
Shares of LPL Financial Holdings (NASDAQ LPLA) traded down 2.47% during midday trading on Thursday, reaching $46.13. The company’s stock had a trading volume of 1,061,265 shares. The company has a 50 day moving average price of $44.46 and a 200-day moving average price of $41.27. The stock has a market capitalization of $4.15 billion, a PE ratio of 20.04 and a beta of 1.84. LPL Financial Holdings has a 52 week low of $27.56 and a 52 week high of $48.56.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. On average, equities research analysts expect that LPL Financial Holdings will post $2.62 EPS for the current year.
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In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the transaction, the insider now directly owns 49,691 shares in the company, valued at approximately $1,954,843.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new stake in LPL Financial Holdings during the second quarter worth $104,000. Public Employees Retirement Association of Colorado boosted its position in LPL Financial Holdings by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after buying an additional 52 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in LPL Financial Holdings by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after buying an additional 211 shares during the last quarter. Tyers Asset Management LLC bought a new position in LPL Financial Holdings during the first quarter valued at approximately $138,000. Finally, James Investment Research Inc. bought a new position in LPL Financial Holdings during the first quarter valued at approximately $142,000. 90.76% of the stock is currently owned by institutional investors and hedge funds.
LPL Financial Holdings Company Profile
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.
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