BidaskClub downgraded shares of LPL Financial (NASDAQ:LPLA) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

Several other equities analysts also recently weighed in on LPLA. Zacks Investment Research downgraded LPL Financial from a buy rating to a hold rating in a research report on Wednesday, September 20th. Morgan Stanley increased their target price on LPL Financial from $39.00 to $42.00 and gave the stock an underweight rating in a research report on Thursday, October 5th. ValuEngine downgraded LPL Financial from a buy rating to a hold rating in a research report on Friday, October 6th. SunTrust Banks reiterated a buy rating and set a $65.00 target price on shares of LPL Financial in a research report on Friday, October 27th. Finally, JPMorgan Chase & Co. increased their target price on LPL Financial from $52.00 to $53.00 and gave the stock a neutral rating in a research report on Monday, October 30th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $58.25.

LPL Financial (NASDAQ LPLA) traded up $0.53 during midday trading on Tuesday, reaching $59.03. The company had a trading volume of 751,670 shares, compared to its average volume of 659,339. LPL Financial has a 1 year low of $37.35 and a 1 year high of $62.51. The stock has a market capitalization of $5,276.12, a P/E ratio of 25.12, a PEG ratio of 1.33 and a beta of 1.88. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. sell-side analysts predict that LPL Financial will post 2.27 EPS for the current fiscal year.

LPL Financial announced that its Board of Directors has approved a stock buyback program on Tuesday, December 5th that permits the company to buyback $359.00 million in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In other LPL Financial news, CEO Dan H. Arnold sold 3,742 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

A number of large investors have recently made changes to their positions in LPLA. Janus Henderson Group PLC acquired a new stake in LPL Financial during the second quarter worth about $399,202,000. Vanguard Group Inc. increased its stake in LPL Financial by 10.4% during the second quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock worth $372,778,000 after acquiring an additional 827,372 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in LPL Financial during the third quarter worth about $31,835,000. Samlyn Capital LLC increased its stake in LPL Financial by 55.6% during the second quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock worth $62,860,000 after acquiring an additional 528,780 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in LPL Financial during the third quarter worth about $20,250,000. Institutional investors own 90.28% of the company’s stock.

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LPL Financial 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 (NASDAQ:LPLA)

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