Wells Fargo & Company Cuts Houlihan Lokey (NYSE:HLI) Price Target to $178.00

Houlihan Lokey (NYSE:HLI) had its price objective reduced by equities research analysts at Wells Fargo & Company from $180.00 to $178.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.75% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Morgan Stanley downgraded Houlihan Lokey from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $171.00 to $200.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods cut their target price on Houlihan Lokey from $172.00 to $170.00 and set a “market perform” rating on the stock in a research report on Monday. StockNews.com lowered Houlihan Lokey from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, UBS Group lifted their price objective on shares of Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $173.40.

Houlihan Lokey Stock Up 1.1 %

NYSE:HLI traded up $1.79 on Tuesday, hitting $166.74. The stock had a trading volume of 5,880 shares, compared to its average volume of 320,457. The company has a market cap of $11.59 billion, a PE ratio of 34.10 and a beta of 0.69. Houlihan Lokey has a 52 week low of $112.84 and a 52 week high of $192.10. The business’s fifty day moving average is $179.93 and its 200 day moving average is $163.09.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.15. Houlihan Lokey had a net margin of 15.77% and a return on equity of 19.29%. The business had revenue of $574.96 million during the quarter, compared to the consensus estimate of $537.93 million. During the same quarter last year, the firm posted $1.11 EPS. Houlihan Lokey’s revenue was up 23.1% compared to the same quarter last year. Equities analysts predict that Houlihan Lokey will post 5.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Houlihan Lokey

A number of hedge funds and other institutional investors have recently made changes to their positions in HLI. Earnest Partners LLC raised its position in Houlihan Lokey by 1.9% in the second quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider’s stock worth $441,507,000 after acquiring an additional 62,314 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Houlihan Lokey by 1.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,087,898 shares of the financial services provider’s stock worth $416,434,000 after purchasing an additional 38,155 shares during the last quarter. State Street Corp raised its holdings in shares of Houlihan Lokey by 1.3% in the 3rd quarter. State Street Corp now owns 1,615,467 shares of the financial services provider’s stock worth $255,276,000 after purchasing an additional 21,106 shares during the period. Geode Capital Management LLC lifted its stake in Houlihan Lokey by 2.8% in the third quarter. Geode Capital Management LLC now owns 970,559 shares of the financial services provider’s stock valued at $153,405,000 after purchasing an additional 26,564 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Houlihan Lokey by 6.2% during the second quarter. Sei Investments Co. now owns 776,335 shares of the financial services provider’s stock valued at $104,697,000 after purchasing an additional 45,205 shares during the period. 78.07% of the stock is owned by hedge funds and other institutional investors.

About Houlihan Lokey

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.