LPL Financial (NASDAQ:LPLA) Price Target Raised to $378.00 at Barclays

LPL Financial (NASDAQ:LPLA) had its price target hoisted by Barclays from $311.00 to $378.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 15.40% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. UBS Group increased their price objective on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Jefferies Financial Group dropped their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Morgan Stanley lifted their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial has a consensus rating of “Moderate Buy” and a consensus price target of $296.42.

LPL Financial Trading Down 0.9 %

LPL Financial stock opened at $327.56 on Monday. LPL Financial has a 12 month low of $187.19 and a 12 month high of $332.54. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market cap of $24.53 billion, a P/E ratio of 24.63, a P/E/G ratio of 1.60 and a beta of 0.86. The company’s fifty day simple moving average is $284.54 and its 200-day simple moving average is $257.04.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $3.74 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that LPL Financial will post 16.1 EPS for the current fiscal year.

Institutional Trading of LPL Financial

Several hedge funds and other institutional investors have recently bought and sold shares of LPLA. FMR LLC increased its stake in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the period. Southpoint Capital Advisors LP grew its holdings in shares of LPL Financial by 50.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of 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 valued at $723,329,000 after purchasing an additional 233,242 shares during the period. Maverick Capital Ltd. raised its stake in shares of LPL Financial by 82.0% in the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after purchasing an additional 223,931 shares in the last quarter. Finally, Azora Capital LP lifted its position in LPL Financial by 52.2% in the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after purchasing an additional 220,622 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.