LPL Financial (LPLA) Downgraded to “Sell” at BidaskClub

Share on StockTwits

BidaskClub lowered shares of LPL Financial (NASDAQ:LPLA) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other analysts also recently issued reports on LPLA. Zacks Investment Research raised LPL Financial from a hold rating to a strong-buy rating and set a $79.00 target price on the stock in a research report on Thursday, May 10th. Goldman Sachs Group downgraded LPL Financial from a buy rating to a neutral rating and set a $81.00 target price on the stock. in a research report on Wednesday, May 16th. JPMorgan Chase & Co. lifted their target price on LPL Financial from $70.00 to $72.00 and gave the company a neutral rating in a research report on Tuesday, April 24th. Credit Suisse Group lifted their target price on LPL Financial from $84.00 to $92.00 and gave the company an outperform rating in a research report on Tuesday, May 8th. Finally, Morgan Stanley lifted their target price on LPL Financial from $72.00 to $74.00 and gave the company an equal weight rating in a research report on Wednesday, May 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $77.73.

NASDAQ:LPLA opened at $65.79 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market capitalization of $5.86 billion, a P/E ratio of 20.12, a P/E/G ratio of 0.89 and a beta of 1.66. LPL Financial has a 52-week low of $41.92 and a 52-week high of $73.28.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, May 3rd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.32. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. LPL Financial had a return on equity of 31.76% and a net margin of 6.33%. LPL Financial’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. analysts anticipate that LPL Financial will post 4.91 earnings per share for the current year.

In other news, Director John Andrew Kalbaugh sold 1,627 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $70.20, for a total transaction of $114,215.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tracy Calder sold 7,388 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $64.54, for a total value of $476,821.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,065 shares of company stock valued at $1,011,996. Corporate insiders own 2.60% of the company’s stock.

Large investors have recently modified their holdings of the company. American International Group Inc. bought a new stake in shares of LPL Financial during the fourth quarter worth approximately $119,000. Private Capital Group LLC boosted its stake in shares of LPL Financial by 266.9% in the first quarter. Private Capital Group LLC now owns 2,176 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,583 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of LPL Financial by 140.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,278 shares during the period. Barings LLC bought a new stake in shares of LPL Financial in the first quarter valued at approximately $214,000. Finally, Cetera Advisors LLC bought a new stake in shares of LPL Financial in the first quarter valued at approximately $217,000. Institutional investors own 93.03% 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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.