BidaskClub upgraded shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) from a hold rating to a buy rating in a research note published on Tuesday morning.

A number of other research firms also recently weighed in on LPLA. Citigroup Inc. upped their target price on LPL Financial Holdings from $47.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, May 10th. Keefe, Bruyette & Woods reiterated a hold rating and set a $44.00 target price on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. SunTrust Banks, Inc. reiterated a hold rating and set a $42.00 target price on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. Zacks Investment Research upgraded LPL Financial Holdings from a hold rating to a buy rating and set a $48.00 target price for the company in a research report on Tuesday, July 4th. Finally, Morgan Stanley reiterated an underweight rating and set a $38.00 target price (up from $35.00) on shares of LPL Financial Holdings in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $42.73.

Shares of LPL Financial Holdings (NASDAQ:LPLA) traded up 1.88% on Tuesday, hitting $45.98. The company’s stock had a trading volume of 1,535,324 shares. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 19.97 and a beta of 1.82. The stock’s 50-day moving average price is $42.85 and its 200-day moving average price is $40.59. LPL Financial Holdings has a 52 week low of $24.46 and a 52 week high of $46.62.

LPL Financial Holdings (NASDAQ:LPLA) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. LPL Financial Holdings had a return on equity of 26.97% and a net margin of 5.10%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. Equities analysts expect that LPL Financial Holdings will post $2.49 earnings per share for the current fiscal year.

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In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $39.34, for a total value of $1,264,781.00. Following the completion of the transaction, the insider now directly owns 49,691 shares in the company, valued at $1,954,843.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado increased its position in LPL Financial Holdings by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after buying an additional 52 shares in the last quarter. Alpha Windward LLC boosted its stake in shares of LPL Financial Holdings by 4.2% in the second quarter. Alpha Windward LLC now owns 12,312 shares of the financial services provider’s stock valued at $523,000 after buying an additional 492 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of LPL Financial Holdings by 6.8% in the first quarter. ProShare Advisors LLC now owns 11,656 shares of the financial services provider’s stock valued at $464,000 after buying an additional 744 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of LPL Financial Holdings by 1.7% in the first quarter. Engineers Gate Manager LP now owns 79,452 shares of the financial services provider’s stock valued at $3,165,000 after buying an additional 1,316 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of LPL Financial Holdings by 9.9% in the first quarter. Private Advisor Group LLC now owns 15,467 shares of the financial services provider’s stock valued at $600,000 after buying an additional 1,387 shares during the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.

About LPL Financial Holdings

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

Analyst Recommendations for LPL Financial Holdings (NASDAQ:LPLA)

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