TD Ameritrade (AMTD) Stock Rating Lowered by Zacks Investment Research
TD Ameritrade (NASDAQ:AMTD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past six months. Further, the company has a decent earnings surprise. It surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. We remain cautious of elevated costs, which are likely to weigh on its financials. 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 topic of several other research reports. Credit Suisse Group began coverage on shares of TD Ameritrade in a research note on Thursday, November 30th. They issued an “underperform” rating and a $45.00 price target on the stock. Morgan Stanley raised their price target on shares of TD Ameritrade from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. BidaskClub lowered shares of TD Ameritrade from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 7th. Jefferies Group restated a “hold” rating and issued a $46.00 price target on shares of TD Ameritrade in a research note on Friday, October 6th. Finally, Bank of America lowered shares of TD Ameritrade from a “buy” rating to a “neutral” rating and raised their price target for the company from $51.00 to $52.00 in a research note on Monday, October 9th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. TD Ameritrade has an average rating of “Buy” and an average price target of $49.93.
TD Ameritrade (NASDAQ:AMTD) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. TD Ameritrade had a net margin of 23.72% and a return on equity of 15.91%. The firm had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $958.57 million. During the same quarter last year, the company posted $0.35 earnings per share. TD Ameritrade’s revenue was up 18.6% on a year-over-year basis. equities analysts expect that TD Ameritrade will post 2.31 EPS for the current fiscal year.
In related news, Director Joseph H. Moglia sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $44.66, for a total transaction of $669,900.00. Following the transaction, the director now owns 155,000 shares in the company, valued at $6,922,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 bought at an average price of $36.12 per share, for a total transaction of $399,999,995.64. The disclosure for this purchase can be found here. 0.42% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Crow Point Partners LLC bought a new stake in TD Ameritrade during the third quarter worth approximately $102,000. Federated Investors Inc. PA boosted its holdings in TD Ameritrade by 5.1% during the second quarter. Federated Investors Inc. PA now owns 4,054 shares of the financial services provider’s stock worth $174,000 after buying an additional 198 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in TD Ameritrade by 27.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,620 shares of the financial services provider’s stock worth $199,000 after buying an additional 1,008 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in TD Ameritrade during the third quarter worth approximately $203,000. Finally, Letko Brosseau & Associates Inc. bought a new stake in TD Ameritrade during the second quarter worth approximately $215,000. Institutional investors and hedge funds own 88.74% of the company’s stock.
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About TD Ameritrade
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.
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