StockNews.com Downgrades LPL Financial (NASDAQ:LPLA) to Sell

LPL Financial (NASDAQ:LPLA) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Other equities research analysts have also issued reports about the stock. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. Barclays reduced their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Keefe, Bruyette & Woods decreased their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. TD Cowen raised their target price on shares of LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, JMP Securities boosted their price objective on LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $279.30.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $219.33 on Tuesday. LPL Financial has a 12 month low of $187.19 and a 12 month high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The business’s 50 day simple moving average is $231.57 and its 200-day simple moving average is $256.20. The firm has a market capitalization of $16.39 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.94 earnings per share. As a group, equities analysts forecast that LPL Financial will post 15.85 earnings per share for the current fiscal year.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the sale, the chief executive officer now owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of LPL Financial in the second quarter valued at about $25,000. EdgeRock Capital LLC acquired a new stake in LPL Financial during the fourth quarter worth about $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial during the 2nd quarter worth approximately $28,000. Riverview Trust Co bought a new position in shares of LPL Financial in the 1st quarter valued at $30,000. Finally, Crewe Advisors LLC grew its position in LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 101 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

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.