Credit Suisse Group Initiates Coverage on LPL Financial (LPLA)

Stock analysts at Credit Suisse Group assumed coverage on shares of LPL Financial (NASDAQ:LPLA) in a research note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating on the financial services provider’s stock.

A number of other analysts have also weighed in on LPLA. SunTrust Banks raised shares of LPL Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from $49.00 to $55.00 in a research note on Wednesday, August 16th. Nomura upped their price target on shares of LPL Financial from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Morgan Stanley upped their price target on shares of LPL Financial from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $51.00 price target (up from $48.00) on shares of LPL Financial in a research note on Friday, August 18th. Finally, Zacks Investment Research raised shares of LPL Financial from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. LPL Financial currently has an average rating of “Hold” and an average price target of $53.20.

LPL Financial (NASDAQ LPLA) traded up $0.07 during trading on Thursday, reaching $51.84. 785,219 shares of the company’s stock were exchanged, compared to its average volume of 716,970. The firm has a market cap of $4,720.00, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.70 and a beta of 1.89. LPL Financial has a 52-week low of $34.01 and a 52-week high of $53.92. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 EPS. research analysts anticipate that LPL Financial will post 2.31 earnings per share for the current year.

In related news, CEO Dan H. Arnold sold 3,742 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total transaction of $181,636.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Independent Advisor Alliance acquired a new stake in shares of LPL Financial during the fourth quarter valued at approximately $100,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of LPL Financial during the second quarter valued at approximately $104,000. Public Employees Retirement Association of Colorado raised its holdings in shares of LPL Financial by 1.9% during 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 acquiring an additional 52 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of LPL Financial by 8.2% during 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. Finally, Tyers Asset Management LLC acquired a new stake in shares of LPL Financial during the first quarter valued at approximately $138,000. 90.35% of the stock is owned by institutional investors and hedge funds.

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LPL Financial 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.

The Fly

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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