Barclays Forecasts Strong Price Appreciation for LPL Financial (NASDAQ:LPLA) Stock

LPL Financial (NASDAQ:LPLA) had its price target raised by investment analysts at Barclays from $400.00 to $450.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 18.66% from the company’s current price.

LPLA has been the subject of a number of other research reports. Wells Fargo & Company cut their price target on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. JMP Securities raised their price target on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Wall Street Zen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Citigroup lowered LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 price target for the company. in a research note on Monday. Finally, Redburn Atlantic raised LPL Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $420.00 to $460.00 in a research report on Monday. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $387.69.

LPL Financial Trading Down 0.3%

Shares of LPLA opened at $379.22 on Monday. The business has a 50-day moving average of $343.53 and a 200 day moving average of $342.30. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $30.33 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 0.94 and a beta of 0.67.

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

Hedge Funds Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of LPL Financial during the 1st quarter valued at $26,000. Millstone Evans Group LLC raised its stake 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 worth $28,000 after buying an additional 48 shares during the period. Graney & King LLC purchased a new position in shares of LPL Financial during the 4th quarter valued at about $30,000. Private Trust Co. NA lifted its position in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after buying an additional 68 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 39 shares during the period. 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.