Wells Fargo & Company Forecasts Strong Price Appreciation for Houlihan Lokey (NYSE:HLI) Stock

Houlihan Lokey (NYSE:HLI) had its price target raised by analysts at Wells Fargo & Company from $185.00 to $209.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.34% from the company’s current price.

A number of other research firms also recently commented on HLI. Morgan Stanley reaffirmed an “overweight” rating and set a $192.00 target price (up previously from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Wall Street Zen downgraded Houlihan Lokey from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Finally, Keefe, Bruyette & Woods lifted their target price on Houlihan Lokey from $183.00 to $185.00 and gave the stock a “market perform” rating in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Houlihan Lokey presently has an average rating of “Moderate Buy” and an average price target of $197.00.

Houlihan Lokey Stock Performance

Shares of NYSE HLI opened at $189.41 on Friday. The company has a market cap of $13.22 billion, a PE ratio of 32.54 and a beta of 0.83. The business has a 50-day simple moving average of $177.06 and a two-hundred day simple moving average of $170.81. Houlihan Lokey has a fifty-two week low of $137.99 and a fifty-two week high of $192.44.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Houlihan Lokey had a return on equity of 21.61% and a net margin of 16.73%. The business had revenue of $666.42 million during the quarter, compared to the consensus estimate of $628.25 million. During the same quarter last year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. On average, sell-side analysts predict that Houlihan Lokey will post 5.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,008 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $178.71, for a total value of $1,431,109.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total value of $86,510.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,508 shares of company stock valued at $2,431,670. 23.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HLI. Diversified Trust Co acquired a new position in shares of Houlihan Lokey during the 2nd quarter worth approximately $576,000. Assenagon Asset Management S.A. acquired a new position in shares of Houlihan Lokey during the 2nd quarter worth approximately $32,882,000. Harbor Capital Advisors Inc. raised its stake in shares of Houlihan Lokey by 17.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 23,955 shares of the financial services provider’s stock worth $4,311,000 after buying an additional 3,542 shares during the period. Voya Investment Management LLC raised its stake in shares of Houlihan Lokey by 4.2% during the 1st quarter. Voya Investment Management LLC now owns 9,815 shares of the financial services provider’s stock worth $1,585,000 after buying an additional 395 shares during the period. Finally, First Hawaiian Bank acquired a new position in shares of Houlihan Lokey during the 1st quarter worth approximately $1,494,000. 78.07% of the stock is owned by institutional investors and hedge funds.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.