Keefe, Bruyette & Woods Upgrades Houlihan Lokey (NYSE:HLI) to Moderate Buy

Houlihan Lokey (NYSE:HLI) was upgraded by research analysts at Keefe, Bruyette & Woods from a “hold” rating to a “moderate buy” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $232.00 price objective on the financial services provider’s stock, up from their prior price objective of $185.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 19.15% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company increased their price objective on Houlihan Lokey from $185.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen upgraded shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley reissued an “overweight” rating and set a $192.00 price target (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.40.

Houlihan Lokey Price Performance

Houlihan Lokey stock opened at $194.71 on Monday. Houlihan Lokey has a 1-year low of $137.99 and a 1-year high of $195.60. The stock has a market cap of $13.59 billion, a PE ratio of 33.46 and a beta of 0.83. The stock’s fifty day moving average is $177.06 and its two-hundred day moving average is $170.77.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.35. The firm had revenue of $666.42 million during the quarter, compared to analysts’ expectations of $628.25 million. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. Houlihan Lokey’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 earnings per share. On average, research analysts expect that Houlihan Lokey will post 5.98 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Irwin Gold sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $182.81, for a total value of $914,050.00. The transaction 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 Houlihan Lokey stock in a transaction on Monday, June 2nd. The stock was 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. Insiders sold 13,508 shares of company stock worth $2,431,670 in the last 90 days. 23.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC grew its holdings in Houlihan Lokey by 111.1% during the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Motco purchased a new stake in Houlihan Lokey during the 1st quarter worth about $29,000. Brooklyn Investment Group purchased a new stake in Houlihan Lokey during the 1st quarter worth about $33,000. TCTC Holdings LLC lifted its holdings in Houlihan Lokey by 103.5% in the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Houlihan Lokey by 3,714.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

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.