TD Ameritrade Holding Corporation (AMTD) Stock Rating Upgraded by Zacks Investment Research

TD Ameritrade Holding Corporation (NASDAQ:AMTD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $49.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.73% from the stock’s current price.

According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past year. Yet, the company’s earnings surprise history is not that impressive. It surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. We remain cautious of the elevated costs, which are likely to weigh on the financials. However, the company recorded a rise in average client trades per day in the fiscal third quarter with the trend continuing in the first month of the current quarter, indicating trading activity improvement. Further, its deal to acquire Scottrade is likely to be accretive to earnings per share (EPS) in double digits. Also, TD Ameritrade’s steady capital deployment activities and revenue growth are encouraging. Moreover, easing margin pressure is another tailwind.”

Several other research analysts also recently commented on AMTD. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $44.50 target price on shares of TD Ameritrade Holding Corporation in a report on Friday, July 14th. BidaskClub downgraded shares of TD Ameritrade Holding Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Instinet reiterated a “buy” rating and issued a $49.00 target price (down previously from $50.00) on shares of TD Ameritrade Holding Corporation in a report on Thursday, July 13th. Nomura dropped their target price on shares of TD Ameritrade Holding Corporation from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. Finally, Rosenblatt Securities assumed coverage on shares of TD Ameritrade Holding Corporation in a report on Thursday, July 13th. They issued a “buy” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $44.40.

TD Ameritrade Holding Corporation (NASDAQ AMTD) opened at 44.25 on Tuesday. The stock’s 50 day moving average is $43.98 and its 200 day moving average is $40.93. The company has a market cap of $23.37 billion, a PE ratio of 27.66 and a beta of 1.48. TD Ameritrade Holding Corporation has a 12 month low of $31.95 and a 12 month high of $47.41.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of $931.00 million for the quarter, compared to the consensus estimate of $897.98 million. TD Ameritrade Holding Corporation had a net margin of 24.01% and a return on equity of 16.09%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. Equities analysts predict that TD Ameritrade Holding Corporation will post $1.69 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in shares of TD Ameritrade Holding Corporation by 10.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 113,288 shares of the financial services provider’s stock valued at $4,870,000 after acquiring an additional 10,781 shares in the last quarter. Bank of Nova Scotia acquired a new stake in shares of TD Ameritrade Holding Corporation during the 2nd quarter valued at about $2,317,000. The Manufacturers Life Insurance Company boosted its position in shares of TD Ameritrade Holding Corporation by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,904 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 1,133 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of TD Ameritrade Holding Corporation during the 2nd quarter valued at about $413,000. Finally, State Street Corp boosted its position in shares of TD Ameritrade Holding Corporation by 0.5% during the 2nd quarter. State Street Corp now owns 4,752,164 shares of the financial services provider’s stock valued at $204,291,000 after acquiring an additional 23,599 shares in the last quarter. Institutional investors and hedge funds own 93.55% of the company’s stock.

About TD Ameritrade Holding Corporation

TD Ameritrade Holding Corporation is a provider of securities brokerage services and related technology-based financial services. The Company provides its services to retail investors, traders and independent registered investment advisors (RIAs). The Company provides its services through the Internet, a national branch network and relationships with RIAs.

Analyst Recommendations for TD Ameritrade Holding Corporation (NASDAQ:AMTD)

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