LPL Financial Holdings Inc (LPLA) Receives Average Rating of “Buy” from Brokerages

LPL Financial Holdings Inc (NASDAQ:LPLA) has been assigned a consensus rating of “Buy” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $58.25.

Several equities analysts have issued reports on LPLA shares. Morgan Stanley lifted their price target on shares of LPL Financial from $39.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, October 5th. ValuEngine lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Zacks Investment Research raised shares of LPL Financial from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Wednesday, October 18th. SunTrust Banks reissued a “buy” rating and set a $65.00 price objective on shares of LPL Financial in a report on Friday, October 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, October 30th.

LPL Financial (NASDAQ:LPLA) traded up $0.06 during midday trading on Tuesday, reaching $59.09. 890,300 shares of the company’s stock traded hands, compared to its average volume of 926,286. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54. LPL Financial has a fifty-two week low of $37.35 and a fifty-two week high of $62.51. The stock has a market capitalization of $5,323.92, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.34 and a beta of 1.88.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. analysts forecast that LPL Financial will post 2.27 EPS for the current year.

LPL Financial declared that its board has initiated a share repurchase plan on Tuesday, December 5th that allows the company to buyback $359.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

In related news, CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware acquired a new position in LPL Financial during the second quarter valued at $104,000. The Manufacturers Life Insurance Company raised its position in shares of LPL Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 211 shares during the period. Comerica Bank acquired a new position in shares of LPL Financial in the third quarter worth about $200,000. Virginia Retirement Systems ET AL acquired a new position in shares of LPL Financial in the third quarter worth about $227,000. Finally, World Asset Management Inc acquired a new position in shares of LPL Financial in the third quarter worth about $239,000. Institutional investors own 90.19% of the company’s stock.

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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.

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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