LPL Financial (NASDAQ:LPLA) Hits New 52-Week High on Analyst Upgrade


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LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price hit a new 52-week high on Tuesday after Barclays raised their price target on the stock from $110.00 to $130.00. Barclays currently has an overweight rating on the stock. LPL Financial traded as high as $118.17 and last traded at $117.60, with a volume of 519 shares changing hands. The stock had previously closed at $116.80.

A number of other analysts have also weighed in on LPLA. BidaskClub upgraded LPL Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, December 8th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on LPL Financial from $132.50 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 17th. Wells Fargo & Company lifted their price objective on LPL Financial from $110.00 to $122.00 in a research report on Monday, January 4th. Smith Barney Citigroup lifted their price objective on LPL Financial from $113.50 to $132.50 in a research report on Wednesday, November 11th. Finally, ValuEngine upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $106.64.

In other LPL Financial news, Director Michelle Oroschakoff sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $86.79, for a total transaction of $347,160.00. Following the transaction, the director now owns 23,857 shares in the company, valued at $2,070,549.03. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sallie R. Larsen sold 5,225 shares of the firm’s stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $95.00, for a total value of $496,375.00. Following the transaction, the director now owns 22,680 shares in the company, valued at approximately $2,154,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,525 shares of company stock worth $1,418,221. Company insiders own 2.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new position in shares of LPL Financial during the 4th quarter valued at about $214,000. YHB Investment Advisors Inc. bought a new position in shares of LPL Financial during the 3rd quarter valued at about $203,000. Intersect Capital LLC bought a new position in shares of LPL Financial during the 3rd quarter valued at about $214,000. Weld Capital Management LLC bought a new position in shares of LPL Financial during the 3rd quarter valued at about $311,000. Finally, GSA Capital Partners LLP bought a new position in shares of LPL Financial during the 3rd quarter valued at about $314,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

The company has a current ratio of 1.30, a quick ratio of 1.31 and a debt-to-equity ratio of 2.03. The firm has a market cap of $9.39 billion, a P/E ratio of 19.70 and a beta of 1.49. The company has a fifty day moving average price of $102.59 and a two-hundred day moving average price of $86.20.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.21. LPL Financial had a return on equity of 49.27% and a net margin of 8.50%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business posted $1.71 EPS. LPL Financial’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 6.25 EPS for the current year.

About LPL Financial (NASDAQ:LPLA)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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