Morgan Stanley Boosts LPL Financial (NASDAQ:LPLA) Price Target to $309.00

LPL Financial (NASDAQ:LPLA) had its target price boosted by equities researchers at Morgan Stanley from $303.00 to $309.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 19.48% from the company’s previous close.

A number of other research firms have also recently commented on LPLA. JPMorgan Chase & Co. raised their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Keefe, Bruyette & Woods dropped their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $277.77.

LPL Financial Trading Down 1.4 %

Shares of LPLA stock opened at $258.62 on Thursday. The company has a market capitalization of $19.32 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. 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 business’s fifty day moving average is $225.63 and its 200 day moving average is $248.32. LPL Financial has a 52-week low of $187.19 and a 52-week high of $289.88.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.94 EPS. On average, equities research analysts anticipate that LPL Financial will post 15.79 EPS for the current fiscal year.

Institutional Investors Weigh In On LPL Financial

A number of large investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new position in LPL Financial in the second quarter worth approximately $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial in the second quarter valued at $28,000. Riverview Trust Co acquired a new position in shares of LPL Financial during the first quarter worth about $30,000. Crewe Advisors LLC increased its position in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in 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 hedge funds and other institutional investors.

LPL Financial Company Profile

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.