LPL Financial (NASDAQ:LPLA) Price Target Raised to $311.00 at Barclays

LPL Financial (NASDAQ:LPLA) had its price target raised by research analysts at Barclays from $273.00 to $311.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 8.81% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group raised their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $285.00 in a research note on Wednesday, October 9th. Morgan Stanley increased their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, LPL Financial presently has an average rating of “Hold” and an average target price of $282.38.

LPL Financial Stock Up 8.3 %

NASDAQ:LPLA traded up $21.81 during midday trading on Thursday, reaching $285.83. 732,964 shares of the stock traded hands, compared to its average volume of 733,288. LPL Financial has a 12-month low of $187.19 and a 12-month high of $291.64. The business has a 50-day moving average of $232.98 and a two-hundred day moving average of $248.24. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $21.37 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 1.38 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last posted 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. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. LPL Financial’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.74 earnings per share. On average, equities analysts forecast that LPL Financial will post 15.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LPL Financial

Institutional investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the 2nd quarter worth approximately $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial during the 2nd quarter worth approximately $28,000. Paladin Wealth LLC purchased a new stake in shares of LPL Financial during the 3rd quarter worth approximately $34,000. Crewe Advisors LLC lifted its position in shares of LPL Financial by 360.7% during 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 lifted its position in shares of LPL Financial by 74.7% during 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. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.