LPL Financial (NASDAQ:LPLA) Stock Rating Upgraded by StockNews.com

LPL Financial (NASDAQ:LPLA) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group upped their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research note on Wednesday, October 9th. Citigroup upped their target price on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Trading Up 2.4 %

Shares of LPLA opened at $312.25 on Friday. LPL Financial has a 12 month low of $187.19 and a 12 month high of $312.50. The stock’s 50-day moving average is $242.47 and its two-hundred day moving average is $249.78. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $23.38 billion, a PE ratio of 23.48, a P/E/G ratio of 1.51 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion for 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%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.74 earnings per share. Equities analysts forecast that LPL Financial will post 16.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LPL Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the 2nd quarter valued at approximately $25,000. Key Financial Inc acquired a new position in shares of LPL Financial during the second quarter valued at $28,000. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial during the third quarter worth about $31,000. Paladin Wealth LLC acquired a new stake in shares of LPL Financial in the 3rd quarter worth about $34,000. Finally, Crewe Advisors LLC lifted its position in 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 purchasing an additional 101 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

About LPL Financial

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.