TD Ameritrade Holding Corporation (AMTD) Upgraded to Strong-Buy at Zacks Investment Research
TD Ameritrade Holding Corporation (NASDAQ:AMTD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm presently has a $56.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.17% from the stock’s current price.
According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past year. Yet, the company’s earnings surprise history is not that impressive. It surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. We remain cautious of the elevated costs, which are likely to weigh on the financials. However, the company recorded a rise in average client trades per day in the fiscal third quarter with the trend continuing in the first two months of the current quarter. Further, its deal to acquire Scottrade is likely to be accretive to earnings per share (EPS) in double digits. Also, TD Ameritrade’s steady capital deployment activities and revenue growth are encouraging.”
AMTD has been the subject of several other reports. Goldman Sachs Group, Inc. (The) assumed coverage on shares of TD Ameritrade Holding Corporation in a report on Tuesday. They set a “neutral” rating for the company. BidaskClub upgraded shares of TD Ameritrade Holding Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.50 price objective on shares of TD Ameritrade Holding Corporation in a report on Friday, July 14th. Instinet reaffirmed a “buy” rating and issued a $49.00 price objective (down previously from $50.00) on shares of TD Ameritrade Holding Corporation in a report on Thursday, July 13th. Finally, Nomura lowered their price objective on TD Ameritrade Holding Corporation from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. TD Ameritrade Holding Corporation presently has an average rating of “Buy” and an average price target of $45.43.
TD Ameritrade Holding Corporation (AMTD) opened at 49.05 on Tuesday. The company has a market cap of $25.91 billion, a price-to-earnings ratio of 30.66 and a beta of 1.55. The stock has a 50 day moving average price of $44.59 and a 200 day moving average price of $41.62. TD Ameritrade Holding Corporation has a 12 month low of $33.26 and a 12 month high of $49.24.
TD Ameritrade Holding Corporation (NASDAQ:AMTD) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. TD Ameritrade Holding Corporation had a net margin of 24.01% and a return on equity of 16.09%. The company had revenue of $931.00 million during the quarter, compared to analysts’ expectations of $897.98 million. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. Analysts anticipate that TD Ameritrade Holding Corporation will post $1.69 earnings per share for the current fiscal year.
In other TD Ameritrade Holding Corporation news, major shareholder Luxembourg International Ho Td acquired 11,074,197 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were purchased at an average cost of $36.12 per share, with a total value of $399,999,995.64. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph H. Moglia sold 15,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $44.66, for a total transaction of $669,900.00. Following the completion of the sale, the director now directly owns 155,000 shares in the company, valued at $6,922,300. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in AMTD. Janus Henderson Group PLC lifted its holdings in shares of TD Ameritrade Holding Corporation by 26,316.9% in the second quarter. Janus Henderson Group PLC now owns 20,404,947 shares of the financial services provider’s stock valued at $877,208,000 after purchasing an additional 20,327,705 shares in the last quarter. BlackRock Inc. grew its position in shares of TD Ameritrade Holding Corporation by 1,374.1% in the first quarter. BlackRock Inc. now owns 13,534,046 shares of the financial services provider’s stock valued at $525,933,000 after purchasing an additional 12,615,921 shares during the last quarter. RPTC Inc. acquired a new stake in shares of TD Ameritrade Holding Corporation in the second quarter valued at approximately $402,937,000. FMR LLC grew its position in shares of TD Ameritrade Holding Corporation by 103.8% in the second quarter. FMR LLC now owns 10,475,718 shares of the financial services provider’s stock valued at $450,351,000 after purchasing an additional 5,336,529 shares during the last quarter. Finally, BT Investment Management Ltd acquired a new stake in shares of TD Ameritrade Holding Corporation in the second quarter valued at approximately $148,207,000. Institutional investors own 93.54% of the company’s stock.
About TD Ameritrade Holding Corporation
TD Ameritrade Holding Corporation is a provider of securities brokerage services and related technology-based financial services. The Company provides its services to retail investors, traders and independent registered investment advisors (RIAs). The Company provides its services through the Internet, a national branch network and relationships with RIAs.
Receive News & Stock Ratings for TD Ameritrade Holding Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TD Ameritrade Holding Corporation and related stocks with our FREE daily email newsletter.