LPL Financial (NASDAQ:LPLA) Receives “Market Outperform” Rating from JMP Securities

LPL Financial (NASDAQ:LPLA)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $310.00 price objective on the financial services provider’s stock. JMP Securities’ price objective indicates a potential upside of 25.93% from the company’s previous close.

LPLA has been the topic of a number of other reports. Citigroup lowered their price target on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. TD Cowen raised their price target on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods decreased their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Jefferies Financial Group decreased their target price 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, StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $278.23.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded up $7.46 during mid-day trading on Wednesday, reaching $246.17. 399,407 shares of the company were exchanged, compared to its average volume of 729,973. The company’s 50-day simple moving average is $217.54 and its 200-day simple moving average is $248.76. 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 stock has a market capitalization of $18.39 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.27 and a beta of 0.88. LPL Financial has a twelve month low of $187.19 and a twelve month high of $289.88.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the company posted $3.94 EPS. LPL Financial’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, research analysts predict that LPL Financial will post 15.88 earnings per share for the current year.

Institutional Trading of LPL Financial

Institutional investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial in the 2nd quarter worth $25,000. Key Financial Inc bought a new stake in shares of LPL Financial in the 2nd quarter worth $28,000. Riverview Trust Co bought a new stake in shares of LPL Financial in the 1st quarter worth $30,000. Crewe Advisors LLC boosted its holdings in shares of 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 buying an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its holdings in shares of LPL Financial by 74.7% in the 2nd 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. Institutional investors own 95.66% of the company’s stock.

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 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.