LPL Financial Holdings Inc. (NASDAQ:LPLA) had its price objective lifted by stock analysts at Morgan Stanley from $39.00 to $42.00 in a research note issued to investors on Thursday. The firm currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential downside of 19.92% from the company’s previous close.

LPLA has been the subject of a number of other reports. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $42.00 price objective on shares of LPL Financial Holdings in a report on Tuesday, July 4th. Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, July 4th. BidaskClub upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $51.00 target price (up previously from $48.00) on shares of LPL Financial Holdings in a research report on Friday, August 18th. Finally, Nomura lifted their target price on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.60.

LPL Financial Holdings (NASDAQ LPLA) traded up 0.78% during mid-day trading on Thursday, reaching $52.86. The company had a trading volume of 236,750 shares. The firm has a 50-day moving average price of $47.80 and a 200 day moving average price of $43.22. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 22.96 and a beta of 1.87. LPL Financial Holdings has a 12-month low of $30.15 and a 12-month high of $53.05.

LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $0.53 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that LPL Financial Holdings will post $2.36 EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in the business. 361 Capital LLC increased its position in shares of LPL Financial Holdings by 322.0% in the second quarter. 361 Capital LLC now owns 93,104 shares of the financial services provider’s stock valued at $3,953,000 after acquiring an additional 71,040 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of 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 acquiring an additional 211 shares during the period. State Street Corp increased its position in shares of LPL Financial Holdings by 2.7% in the second quarter. State Street Corp now owns 1,251,932 shares of the financial services provider’s stock valued at $53,161,000 after acquiring an additional 32,320 shares during the period. Wildcat Capital Management LLC increased its position in shares of LPL Financial Holdings by 0.8% in the second quarter. Wildcat Capital Management LLC now owns 208,401 shares of the financial services provider’s stock valued at $8,801,000 after acquiring an additional 1,754 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of LPL Financial Holdings in the second quarter valued at about $399,202,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.

Analyst Recommendations for LPL Financial Holdings (NASDAQ:LPLA)

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