The Goldman Sachs Group Increases LPL Financial (NASDAQ:LPLA) Price Target to $305.00

LPL Financial (NASDAQ:LPLA) had its target price increased by stock analysts at The Goldman Sachs Group from $271.00 to $305.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 8.48% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Citigroup boosted their price target on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods decreased their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $285.00 in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Stock Down 0.4 %

Shares of LPLA stock traded down $1.02 during trading on Friday, reaching $281.16. The company’s stock had a trading volume of 320,766 shares, compared to its average volume of 735,421. LPL Financial has a 1-year low of $187.19 and a 1-year high of $291.67. The stock’s 50-day moving average price is $234.24 and its 200 day moving average price is $248.48. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $21.02 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.43 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.74 earnings per share. On average, research analysts anticipate that LPL Financial will post 15.71 EPS for the current year.

Institutional Investors Weigh In On LPL Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new stake in LPL Financial during the second quarter valued at $25,000. Key Financial Inc bought a new position in LPL Financial in the 2nd quarter worth approximately $28,000. Paladin Wealth LLC acquired a new position in shares of LPL Financial during the third quarter valued at $34,000. Crewe Advisors LLC raised its position in shares of LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after buying an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its position in LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 shares during the period. 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.