LPL Financial’s (LPLA) Market Outperform Rating Reaffirmed at JMP Securities

LPL Financial (NASDAQ:LPLA)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a note issued to investors on Wednesday, Benzinga reports. They presently have a $310.00 target price on the financial services provider’s stock. JMP Securities’ price objective suggests a potential upside of 25.93% from the company’s current price.

A number of other equities research analysts also recently issued reports on LPLA. StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Keefe, Bruyette & Woods lowered their price target 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. Barclays reduced their price target on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. UBS Group increased their price objective on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, TD Cowen raised their price target on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $278.23.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded up $7.46 during midday trading on Wednesday, reaching $246.17. The company had a trading volume of 399,407 shares, compared to its average volume of 729,973. The stock has a market cap of $18.39 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.27 and a beta of 0.88. LPL Financial has a 52-week low of $187.19 and a 52-week high of $289.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The company’s 50 day moving average price is $217.54 and its 200 day moving average price is $248.76.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.94 earnings per share. As a group, sell-side analysts anticipate that LPL Financial will post 15.88 EPS for the current fiscal year.

Hedge Funds Weigh In On LPL Financial

Several institutional investors and hedge funds have recently modified their holdings of LPLA. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of LPL Financial by 12,785.9% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 234,524 shares of the financial services provider’s stock valued at $53,382,000 after acquiring an additional 232,704 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in LPL Financial by 65.3% in the 4th quarter. V Square Quantitative Management LLC now owns 863 shares of the financial services provider’s stock worth $196,000 after buying an additional 341 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in LPL Financial in the 4th quarter worth about $89,000. Vanguard Group Inc. increased its holdings in LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after buying an additional 48,439 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in LPL Financial in the 4th quarter worth about $506,000. 95.66% of the stock is currently owned by institutional investors.

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.