BidaskClub Downgrades LPL Financial (LPLA) to Buy

LPL Financial (NASDAQ:LPLA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

LPLA has been the subject of several other research reports. ValuEngine lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Sanford C. Bernstein initiated coverage on shares of LPL Financial in a research report on Monday, April 9th. They issued an “outperform” rating and a $75.00 price target for the company. Zacks Investment Research lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Credit Suisse Group increased their price target on shares of LPL Financial from $84.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 8th. Finally, Morgan Stanley raised their price objective on shares of LPL Financial from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 30th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $77.73.

LPL Financial opened at $70.49 on Tuesday, Marketbeat.com reports. LPL Financial has a 12-month low of $40.26 and a 12-month high of $73.28. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $6.29 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.63.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.32. LPL Financial had a net margin of 6.33% and a return on equity of 31.76%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. equities analysts predict that LPL Financial will post 4.91 EPS for the current fiscal year.

In related news, Director Michelle Oroschakoff sold 6,050 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $69.58, for a total value of $420,959.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tracy Calder sold 7,388 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $64.54, for a total transaction of $476,821.52. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Allianz Asset Management GmbH increased its holdings in shares of LPL Financial by 36.7% in the first quarter. Allianz Asset Management GmbH now owns 328,844 shares of the financial services provider’s stock valued at $20,083,000 after purchasing an additional 88,242 shares in the last quarter. Amalgamated Bank increased its holdings in shares of LPL Financial by 6.8% in the first quarter. Amalgamated Bank now owns 18,859 shares of the financial services provider’s stock valued at $1,152,000 after purchasing an additional 1,193 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of LPL Financial in the first quarter valued at approximately $349,000. Xact Kapitalforvaltning AB increased its holdings in shares of LPL Financial by 35.7% in the first quarter. Xact Kapitalforvaltning AB now owns 9,881 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Private Capital Group LLC increased its holdings in shares of LPL Financial by 266.9% in the first quarter. Private Capital Group LLC now owns 2,176 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,583 shares in the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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