LPL Financial (NASDAQ:LPLA) Given New $378.00 Price Target at Barclays

LPL Financial (NASDAQ:LPLA) had its target price increased by equities research analysts at Barclays from $311.00 to $378.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 15.40% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. JMP Securities restated a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. TD Cowen raised their price target on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a report on Thursday, October 31st. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, UBS Group raised their target price on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.42.

LPL Financial Trading Down 0.9 %

Shares of LPLA opened at $327.56 on Monday. The stock has a 50 day simple moving average of $284.54 and a 200-day simple moving average of $257.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market cap of $24.53 billion, a PE ratio of 24.63, a PEG ratio of 1.60 and a beta of 0.86. LPL Financial has a 1 year low of $187.19 and a 1 year high of $332.54.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the business earned $3.74 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that LPL Financial will post 16.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bridges Investment Management Inc. raised its stake in shares of LPL Financial by 3.2% during the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after buying an additional 37 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 42 shares during the last quarter. MFA Wealth Advisors LLC lifted its stake in shares of LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 43 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of LPL Financial by 1.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock worth $956,000 after purchasing an additional 44 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of LPL Financial by 5.1% during the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 46 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

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.