StockNews.com Lowers LPL Financial (NASDAQ:LPLA) to Sell

LPL Financial (NASDAQ:LPLA) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

A number of other analysts also recently weighed in on the stock. Citigroup reduced their target price on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a report on Friday. Barclays reduced their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Keefe, Bruyette & Woods lowered their price objective on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Wells Fargo & Company initiated coverage on LPL Financial in a report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 target price for the company. Finally, UBS Group decreased their price target on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $275.69.

LPL Financial Price Performance

Shares of NASDAQ:LPLA traded down $2.78 during mid-day trading on Tuesday, reaching $229.85. The stock had a trading volume of 433,774 shares, compared to its average volume of 725,199. The business’s 50 day moving average price is $216.09 and its 200 day moving average price is $250.12. LPL Financial has a 1 year low of $187.19 and a 1 year high of $289.88. The company has a market cap of $17.17 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the firm earned $3.94 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Research analysts expect that LPL Financial will post 15.88 EPS for the current fiscal year.

Institutional Investors Weigh In On LPL Financial

Several hedge funds have recently made changes to their positions in LPLA. Vanguard Group Inc. lifted its position in shares of LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after purchasing an additional 48,439 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after buying an additional 233,242 shares during the period. Boston Partners boosted its position in LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after acquiring an additional 738,509 shares in the last quarter. Samlyn Capital LLC increased its holdings in shares of LPL Financial by 8.0% in the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after acquiring an additional 88,635 shares during the period. Finally, TD Asset Management Inc raised its position in shares of LPL Financial by 33.2% in the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after acquiring an additional 275,286 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.