LPL Financial Holdings Inc. (NASDAQ:LPLA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $59.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.34% from the company’s previous close.

According to Zacks, “LPL Financial Holdings Inc. is engaged in providing 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, general securities, alternative investments, retirement plans, fixed income, and insurance offerings. LPL Financial Holdings Inc., formerly known as LPL Investment Holdings Inc., is based in Boston, Massachusetts. “

A number of other research analysts have also recently issued reports on the stock. ValuEngine cut shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Morgan Stanley increased their price objective on shares of LPL Financial Holdings from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $51.00 price objective (up previously from $48.00) on shares of LPL Financial Holdings in a research note on Friday, August 18th. Nomura increased their price objective on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, SunTrust Banks, Inc. upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $55.00 in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $49.70.

Shares of LPL Financial Holdings (NASDAQ:LPLA) opened at 52.52 on Wednesday. The company has a market cap of $4.72 billion, a P/E ratio of 22.81 and a beta of 1.87. The stock’s 50 day moving average is $49.87 and its 200-day moving average is $44.24. LPL Financial Holdings has a 12 month low of $30.18 and a 12 month high of $53.58.

LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. On average, equities analysts forecast that LPL Financial Holdings will post $2.37 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new stake in LPL Financial Holdings during the second quarter valued at $399,202,000. Janus Capital Management LLC grew its position in LPL Financial Holdings by 13.1% during the first quarter. Janus Capital Management LLC now owns 8,996,531 shares of the financial services provider’s stock valued at $358,332,000 after buying an additional 1,038,731 shares during the period. Vanguard Group Inc. grew its position in LPL Financial Holdings by 10.4% during the second quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock valued at $372,778,000 after buying an additional 827,372 shares during the period. BlackRock Inc. grew its position in LPL Financial Holdings by 1.3% during the second quarter. BlackRock Inc. now owns 3,558,615 shares of the financial services provider’s stock valued at $151,098,000 after buying an additional 46,013 shares during the period. Finally, Samlyn Capital LLC grew its position in LPL Financial Holdings by 55.6% during the second quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock valued at $62,860,000 after buying an additional 528,780 shares during the period. Institutional investors own 89.73% of the company’s stock.

About LPL Financial Holdings

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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