LPL Financial Holdings Inc. (NASDAQ:LPLA) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other brokerages have also recently issued reports on LPLA. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 target price on shares of LPL Financial Holdings in a report on Tuesday, July 4th. Morgan Stanley reaffirmed an “underweight” rating and issued a $38.00 target price (up previously from $35.00) on shares of LPL Financial Holdings in a report on Monday, July 10th. BidaskClub cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Nomura upped their target price on LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. LPL Financial Holdings has a consensus rating of “Hold” and a consensus target price of $48.60.

LPL Financial Holdings (NASDAQ:LPLA) opened at 53.30 on Friday. LPL Financial Holdings has a 12-month low of $30.18 and a 12-month high of $53.52. The company has a 50-day moving average price of $48.17 and a 200 day moving average price of $43.38. The company has a market cap of $4.79 billion, a PE ratio of 23.15 and a beta of 1.87.

LPL Financial Holdings (NASDAQ:LPLA) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. LPL Financial Holdings had a return on equity of 26.45% and a net margin of 5.10%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts forecast that LPL Financial Holdings will post $2.36 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPLA. Mckinley Capital Management LLC Delaware bought a new stake in shares of LPL Financial Holdings in the 2nd quarter valued at about $104,000. Public Employees Retirement Association of Colorado grew its position in shares of LPL Financial Holdings by 1.9% in the 2nd 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 during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of LPL Financial Holdings 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 last quarter. SG Americas Securities LLC bought a new stake in shares of LPL Financial Holdings in the 1st quarter valued at about $171,000. Finally, Teacher Retirement System of Texas grew its position in shares of LPL Financial Holdings by 10.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,514 shares of the financial services provider’s stock valued at $277,000 after buying an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

LPL Financial Holdings 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.

Analyst Recommendations for LPL Financial Holdings (NASDAQ:LPLA)

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