TD Cowen Forecasts Strong Price Appreciation for LPL Financial (NASDAQ:LPLA) Stock

LPL Financial (NASDAQ:LPLA) had its price target lifted by investment analysts at TD Cowen from $356.00 to $410.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective suggests a potential upside of 9.48% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities set a $475.00 price objective on shares of LPL Financial in a research note on Friday. Rothschild Redb cut shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Raymond James Financial raised shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. Finally, Morgan Stanley dropped their price target on shares of LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $429.00.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $374.49 on Monday. The stock has a market capitalization of $29.96 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 0.87 and a beta of 0.63. LPL Financial has a 12 month low of $262.83 and a 12 month high of $403.58. The firm’s 50 day simple moving average is $340.29 and its 200-day simple moving average is $357.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. The business had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 40.11%. The business’s revenue was up 46.4% on a year-over-year basis. During the same quarter last year, the company earned $4.16 EPS. Analysts expect that LPL Financial will post 19.35 EPS for the current year.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Greg Gates sold 750 shares of LPL Financial stock in a transaction on Monday, October 6th. The shares were sold at an average price of $314.42, for a total transaction of $235,815.00. Following the sale, the director owned 16,870 shares of the company’s stock, valued at $5,304,265.40. The trade was a 4.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of LPL Financial stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This trade represents a 1.41% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,330 shares of company stock worth $772,030. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osterweis Capital Management Inc. acquired a new stake in LPL Financial during the 2nd quarter worth $26,000. Summit Securities Group LLC acquired a new stake in LPL Financial during the 1st quarter worth $26,000. SBI Securities Co. Ltd. raised its holdings in shares of LPL Financial by 116.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 43 shares during the period. Chung Wu Investment Group LLC purchased a new position in shares of LPL Financial during the 3rd quarter worth $27,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of LPL Financial by 912.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

About LPL Financial

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.