LPL Financial (NASDAQ:LPLA) Price Target Lowered to $271.00 at The Goldman Sachs Group

LPL Financial (NASDAQ:LPLA) had its target price dropped by stock analysts at The Goldman Sachs Group from $289.00 to $271.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 17.39% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities lifted their price target on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. UBS Group cut their price target on LPL Financial from $290.00 to $215.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, Jefferies Financial Group increased their price objective on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $275.69.

LPL Financial Price Performance

Shares of LPLA opened at $230.86 on Thursday. The company has a 50 day moving average of $215.72 and a two-hundred day moving average of $250.53. LPL Financial has a twelve month low of $187.19 and a twelve month high of $289.88. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. LPL Financial’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.94 earnings per share. As a group, analysts predict that LPL Financial will post 15.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LPL Financial

Several institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial in the 2nd quarter valued at about $25,000. Key Financial Inc purchased a new stake in LPL Financial in the second quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in LPL Financial during the first quarter worth approximately $30,000. Crewe Advisors LLC raised its stake in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC boosted its holdings in shares of LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.