LPL Financial (NASDAQ:LPLA) Stock Rating Upgraded by TD Cowen

LPL Financial (NASDAQ:LPLA) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued on Thursday, MarketBeat reports. The brokerage currently has a $413.00 target price on the financial services provider’s stock, up from their previous target price of $277.00. TD Cowen’s price target points to a potential upside of 25.94% from the company’s previous close.

LPLA has been the topic of a number of other research reports. Wells Fargo & Company increased their price objective on LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Morgan Stanley lifted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup raised their target price on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group cut their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $322.75.

LPL Financial Stock Performance

LPLA stock opened at $327.93 on Thursday. The firm has a 50 day moving average of $302.23 and a two-hundred day moving average of $260.52. LPL Financial has a 12 month low of $187.19 and a 12 month high of $334.83. The company has a market capitalization of $24.56 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 1.61 and a beta of 0.86. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.74 EPS. As a group, equities analysts anticipate that LPL Financial will post 16.1 EPS for the current fiscal year.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of LPL Financial

A number of hedge funds have recently modified their holdings of LPLA. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial in the second quarter valued at $25,000. Key Financial Inc acquired a new stake in LPL Financial during the second quarter worth $28,000. Ashton Thomas Securities LLC bought a new stake in LPL Financial in the 3rd quarter valued at $31,000. Paladin Wealth LLC bought a new stake in LPL Financial in the 3rd quarter valued at $34,000. Finally, Crewe Advisors LLC raised its stake in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.