Zacks Investment Research Upgrades TD Ameritrade Holding Corp. (AMTD) to “Buy”

TD Ameritrade Holding Corp. (NASDAQ:AMTD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, October 18th. The brokerage currently has a $54.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 6.01% from the stock’s current price.

According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past six months. Estimates have been revised upward, ahead of its fiscal fourth-quarter results. Yet, the company’s earnings surprise history is not that impressive. It surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. We remain cautious of the elevated costs, which are likely to weigh on the financials. However, the company recorded a rise in average client trades per day in the fiscal third quarter with the trend continuing in the first two months of the fourth quarter. Further, its deal to acquire Scottrade is likely to be accretive to earnings per share (EPS) in double digits. Also, TD Ameritrade’s steady capital deployment activities and revenue growth are encouraging.”

Several other brokerages also recently weighed in on AMTD. Jefferies Group LLC reiterated a “hold” rating and issued a $46.00 price target on shares of TD Ameritrade Holding Corp. in a report on Friday, October 6th. Morgan Stanley increased their price target on TD Ameritrade Holding Corp. from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $53.00 price objective on shares of TD Ameritrade Holding Corp. in a report on Tuesday, October 3rd. BidaskClub upgraded TD Ameritrade Holding Corp. from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Finally, Citigroup Inc. restated a “neutral” rating and set a $50.00 price objective on shares of TD Ameritrade Holding Corp. in a report on Tuesday, October 10th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. TD Ameritrade Holding Corp. presently has an average rating of “Buy” and an average price target of $50.00.

TD Ameritrade Holding Corp. (NASDAQ AMTD) traded down 1.41% during trading on Wednesday, reaching $50.22. 472,217 shares of the company’s stock were exchanged. TD Ameritrade Holding Corp. has a 12 month low of $33.26 and a 12 month high of $50.96. The firm has a market cap of $26.52 billion, a price-to-earnings ratio of 31.39 and a beta of 1.55. The firm’s 50-day moving average price is $47.09 and its 200-day moving average price is $42.83.

TD Ameritrade Holding Corp. (NASDAQ:AMTD) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. TD Ameritrade Holding Corp. had a return on equity of 13.32% and a net margin of 21.46%. The firm had revenue of $983.00 million for the quarter, compared to the consensus estimate of $958.57 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities research analysts anticipate that TD Ameritrade Holding Corp. will post $2.23 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This report was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2017/10/27/td-ameritrade-holding-corporation-amtd-upgraded-to-buy-at-zacks-investment-research.html.

In other TD Ameritrade Holding Corp. news, Director Joseph H. Moglia sold 15,000 shares of TD Ameritrade Holding Corp. stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $44.66, for a total transaction of $669,900.00. Following the completion of the sale, the director now owns 155,000 shares of the company’s stock, valued at approximately $6,922,300. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Luxembourg International Ho Td purchased 11,074,197 shares of the stock in a transaction on Monday, September 18th. The shares were purchased at an average cost of $36.12 per share, with a total value of $399,999,995.64. The disclosure for this purchase can be found here. Insiders own 0.42% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. purchased a new position in shares of TD Ameritrade Holding Corp. during the 3rd quarter valued at about $357,000. SPC Financial Inc. purchased a new position in shares of TD Ameritrade Holding Corp. during the 3rd quarter valued at about $1,630,000. Pictet Asset Management Ltd. raised its stake in shares of TD Ameritrade Holding Corp. by 3.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 101,400 shares of the financial services provider’s stock valued at $4,948,000 after buying an additional 3,600 shares during the last quarter. Aperio Group LLC raised its stake in shares of TD Ameritrade Holding Corp. by 1.3% during the 3rd quarter. Aperio Group LLC now owns 84,752 shares of the financial services provider’s stock valued at $4,136,000 after buying an additional 1,087 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of TD Ameritrade Holding Corp. by 0.4% in the 3rd quarter. First Trust Advisors LP now owns 2,902,023 shares of the financial services provider’s stock valued at $141,619,000 after purchasing an additional 11,454 shares in the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

About TD Ameritrade Holding Corp.

TD Ameritrade Holding Corporation is a provider of securities brokerage services and related technology-based financial services. The Company provides its services to retail investors, traders and independent registered investment advisors (RIAs). The Company provides its services through the Internet, a national branch network and relationships with RIAs.

Get a free copy of the Zacks research report on TD Ameritrade Holding Corp. (AMTD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for TD Ameritrade Holding Corp. (NASDAQ:AMTD)

Receive News & Ratings for TD Ameritrade Holding Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TD Ameritrade Holding Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply