LPL Financial (NASDAQ:LPLA) PT Raised to $309.00 at Morgan Stanley

LPL Financial (NASDAQ:LPLA) had its price target raised by equities research analysts at Morgan Stanley from $303.00 to $309.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.34% from the company’s current price.

Several other equities analysts have also commented on the company. TD Cowen increased their price objective on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lowered their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Jefferies Financial Group reduced their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. JMP Securities reissued a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, Citigroup dropped their price objective on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $277.77.

LPL Financial Price Performance

NASDAQ LPLA traded up $4.14 on Thursday, hitting $258.92. The stock had a trading volume of 80,809 shares, compared to its average volume of 729,340. The firm has a 50-day moving average of $223.10 and a 200-day moving average of $248.28. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial has a 52-week low of $187.19 and a 52-week high of $289.88. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.66 by $0.22. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. LPL Financial’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.94 earnings per share. Equities analysts expect that LPL Financial will post 15.79 EPS for the current year.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently modified their holdings of the company. DGS Capital Management LLC boosted its holdings in LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 44 shares during the last quarter. Tortoise Investment Management LLC increased its position in shares of LPL Financial by 74.7% during the 2nd 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 last quarter. King Luther Capital Management Corp raised its stake in shares of LPL Financial by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock valued at $1,637,000 after acquiring an additional 56 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of LPL Financial by 0.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 60 shares during the period. Finally, LVW Advisors LLC lifted its stake in LPL Financial by 1.9% during the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other 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.