LPL Financial (NASDAQ:LPLA) Downgraded by Wall Street Zen to “Hold”

LPL Financial (NASDAQ:LPLA) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts have also recently weighed in on LPLA. Wells Fargo & Company cut their price objective on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Morgan Stanley lifted their price target on LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Barclays increased their price target on LPL Financial from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. JMP Securities raised their price objective on LPL Financial from $420.00 to $440.00 and gave the company a “market outperform” rating in a report on Friday, May 9th. Finally, Redburn Atlantic upgraded LPL Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average price target of $387.69.

LPL Financial Stock Down 1.4%

Shares of LPLA stock opened at $374.08 on Friday. LPL Financial has a twelve month low of $187.19 and a twelve month high of $390.23. The stock has a market cap of $29.92 billion, a P/E ratio of 26.64, a P/E/G ratio of 0.94 and a beta of 0.67. The stock has a 50 day moving average of $348.98 and a 200 day moving average of $343.48. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the firm earned $3.83 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that LPL Financial will post 19.35 EPS for the current year.

Institutional Trading of LPL Financial

Several large investors have recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in LPL Financial during the 1st quarter worth $26,000. Millstone Evans Group LLC raised its position in shares of LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after buying an additional 48 shares during the last quarter. Graney & King LLC acquired a new stake in shares of LPL Financial in the fourth quarter valued at about $30,000. Private Trust Co. NA lifted its stake in shares of LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock worth $32,000 after buying an additional 68 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock worth $33,000 after buying an additional 39 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.