Credit Suisse Group restated their outperform rating on shares of LPL Financial (NASDAQ:LPLA) in a report published on Tuesday, The Fly reports. They currently have a $77.00 target price on the financial services provider’s stock, up from their previous target price of $68.00.

Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of LPL Financial from a hold rating to a sell rating in a report on Wednesday, November 8th. Citigroup raised their price objective on shares of LPL Financial from $60.50 to $65.00 and gave the stock a buy rating in a report on Monday, October 30th. Nomura raised their price objective on shares of LPL Financial from $64.00 to $65.00 and gave the stock a buy rating in a report on Thursday, November 9th. ValuEngine lowered shares of LPL Financial from a buy rating to a hold rating in a report on Friday, October 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of LPL Financial from $52.00 to $53.00 and gave the stock a neutral rating in a report on Monday, October 30th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $58.25.

LPL Financial (LPLA) traded down $0.36 during trading on Tuesday, reaching $59.55. 1,304,448 shares of the company traded hands, compared to its average volume of 906,600. LPL Financial has a 12-month low of $36.72 and a 12-month high of $62.51. The stock has a market cap of $5,420.00, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.39 and a beta of 1.88. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 EPS. sell-side analysts predict that LPL Financial will post 2.27 earnings per share for the current year.

LPL Financial declared that its board has approved a stock buyback plan on Tuesday, December 5th that allows the company to repurchase $359.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

In other news, CEO Dan H. Arnold sold 3,742 shares of LPL Financial stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total value of $181,636.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of LPL Financial in the 2nd quarter valued at about $104,000. The Manufacturers Life Insurance Company boosted its holdings in shares of LPL Financial by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after buying an additional 211 shares during the period. Comerica Bank acquired a new position in shares of LPL Financial in the 3rd quarter valued at about $200,000. Virginia Retirement Systems ET AL acquired a new position in shares of LPL Financial in the 3rd quarter valued at about $227,000. Finally, World Asset Management Inc acquired a new position in shares of LPL Financial in the 3rd quarter valued at about $239,000. 90.28% of the stock is owned by institutional investors and hedge funds.

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LPL Financial Company Profile

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.

The Fly

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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