LPL Financial (NASDAQ:LPLA) Stock Price Expected to Rise, Citigroup Analyst Says

LPL Financial (NASDAQ:LPLA) had its price objective upped by Citigroup from $285.00 to $310.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 10.39% from the stock’s previous close.

A number of other research firms have also recently issued reports on LPLA. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group cut their target price on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. Barclays boosted their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Trading Down 0.5 %

Shares of NASDAQ:LPLA opened at $280.81 on Thursday. LPL Financial has a 52-week low of $187.19 and a 52-week high of $291.67. The company has a market cap of $20.99 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.43 and a beta of 0.88. The stock’s 50-day moving average is $234.24 and its 200-day moving average is $248.48. 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 (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $3.74 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that LPL Financial will post 15.71 earnings per share for the current year.

Institutional Trading of LPL Financial

A number of institutional investors have recently bought and sold shares of LPLA. Wealth Enhancement Advisory Services LLC grew its holdings in LPL Financial by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,675 shares of the financial services provider’s stock worth $2,292,000 after acquiring an additional 313 shares during the period. Norden Group LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at $889,000. Commonwealth Equity Services LLC grew its holdings in shares of LPL Financial by 33.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 5,473 shares of the financial services provider’s stock valued at $1,446,000 after buying an additional 1,380 shares during the period. Van ECK Associates Corp grew its holdings in shares of LPL Financial by 14.4% in the 1st quarter. Van ECK Associates Corp now owns 23,589 shares of the financial services provider’s stock valued at $6,233,000 after buying an additional 2,969 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at $208,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.