The Goldman Sachs Group Raises LPL Financial (NASDAQ:LPLA) Price Target to $305.00

LPL Financial (NASDAQ:LPLA) had its price target boosted by equities research analysts at The Goldman Sachs Group from $271.00 to $305.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 8.48% from the stock’s current price.

A number of other research analysts also recently issued reports on LPLA. Citigroup boosted their price objective on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Morgan Stanley lifted their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. TD Cowen boosted their target price on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded down $1.02 during trading on Friday, reaching $281.16. 320,766 shares of the company traded hands, compared to its average volume of 735,421. LPL Financial has a 52-week low of $187.19 and a 52-week high of $291.67. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm has a 50 day simple moving average of $234.24 and a 200-day simple moving average of $248.48. The stock has a market capitalization of $21.02 billion, a PE ratio of 21.12, a P/E/G ratio of 1.43 and a beta of 0.88.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the 2nd quarter valued at approximately $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial during the second quarter worth approximately $28,000. Paladin Wealth LLC purchased a new position in shares of LPL Financial in the third quarter worth about $34,000. Crewe Advisors LLC lifted its stake in LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after buying an additional 56 shares during the last quarter. Hedge funds and other 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.