TD Cowen Forecasts Strong Price Appreciation for LPL Financial (NASDAQ:LPLA) Stock

LPL Financial (NASDAQ:LPLA) had its price objective hoisted by investment analysts at TD Cowen from $271.00 to $277.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price would suggest a potential downside of 1.36% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays dropped their price objective on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. Jefferies Financial Group dropped their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, UBS Group boosted their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Stock Down 0.5 %

LPL Financial stock opened at $280.81 on Thursday. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.43 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $291.67. The firm has a fifty day moving average price of $234.24 and a two-hundred day moving average price of $248.48.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.74 EPS. As a group, analysts forecast that LPL Financial will post 15.71 earnings per share for the current year.

Institutional Trading of LPL Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in LPL Financial by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,675 shares of the financial services provider’s stock worth $2,292,000 after buying an additional 313 shares during the last quarter. Norden Group LLC bought a new stake in LPL Financial during the first quarter worth about $889,000. Commonwealth Equity Services LLC grew its stake in LPL Financial by 33.7% during the first quarter. Commonwealth Equity Services LLC now owns 5,473 shares of the financial services provider’s stock worth $1,446,000 after buying an additional 1,380 shares during the last quarter. Van ECK Associates Corp grew its stake in LPL Financial by 14.4% during the first quarter. Van ECK Associates Corp now owns 23,589 shares of the financial services provider’s stock worth $6,233,000 after buying an additional 2,969 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in LPL Financial during the first quarter worth about $208,000. Institutional investors 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.