ValuEngine Upgrades LPL Financial (NASDAQ:LPLA) to “Hold”

LPL Financial (NASDAQ:LPLA) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

Several other research analysts have also recently weighed in on LPLA. Citigroup reduced their price objective on LPL Financial from $102.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Zacks Investment Research cut LPL Financial from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Credit Suisse Group raised their price objective on LPL Financial from $108.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, BidaskClub cut LPL Financial from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $87.19.

LPLA traded up $0.61 during midday trading on Tuesday, hitting $81.68. 17,332 shares of the company traded hands, compared to its average volume of 715,976. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.75 and a beta of 1.37. LPL Financial has a 52-week low of $52.03 and a 52-week high of $89.89. The business has a 50 day simple moving average of $76.85 and a two-hundred day simple moving average of $78.17.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. LPL Financial had a net margin of 9.77% and a return on equity of 57.63%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. Equities research analysts anticipate that LPL Financial will post 7.12 earnings per share for the current year.

In other LPL Financial news, insider Michelle Oroschakoff sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $71.67, for a total value of $358,350.00. Following the sale, the insider now owns 14,297 shares of the company’s stock, valued at approximately $1,024,665.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew J. Audette sold 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $76.67, for a total value of $958,375.00. Following the completion of the sale, the chief financial officer now directly owns 30,943 shares in the company, valued at approximately $2,372,399.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,247 shares of company stock worth $2,803,477. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of LPL Financial by 3.0% during the 2nd quarter. BlackRock Inc. now owns 4,144,447 shares of the financial services provider’s stock valued at $338,063,000 after acquiring an additional 120,006 shares in the last quarter. FMR LLC raised its position in shares of LPL Financial by 46.8% in the 1st quarter. FMR LLC now owns 2,589,022 shares of the financial services provider’s stock worth $180,326,000 after acquiring an additional 825,829 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of LPL Financial by 1.7% in the 1st quarter. Frontier Capital Management Co. LLC now owns 2,458,484 shares of the financial services provider’s stock worth $171,233,000 after acquiring an additional 42,077 shares in the last quarter. AJO LP raised its position in shares of LPL Financial by 794.9% in the 1st quarter. AJO LP now owns 1,254,257 shares of the financial services provider’s stock worth $87,359,000 after acquiring an additional 1,114,099 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of LPL Financial by 19.2% in the 4th quarter. Geode Capital Management LLC now owns 1,192,078 shares of the financial services provider’s stock worth $72,811,000 after acquiring an additional 191,891 shares in the last quarter. 94.57% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Company Profile

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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