LPL Financial (LPLA) Downgraded by Zacks Investment Research

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LPL Financial (NASDAQ:LPLA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “LPL Financial Holdings Inc. is engaged in providing 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, general securities, alternative investments, retirement plans, fixed income, and insurance offerings. LPL Financial Holdings Inc., formerly known as LPL Investment Holdings Inc., is based in Boston, Massachusetts. “

A number of other equities analysts also recently weighed in on LPLA. BidaskClub raised shares of LPL Financial from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $83.00 target price on shares of LPL Financial in a research note on Friday, July 27th. Goldman Sachs Group downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $81.00 target price for the company. in a research note on Wednesday, May 16th. Wells Fargo & Co raised their target price on shares of LPL Financial from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, July 27th. Finally, Morgan Stanley raised their target price on shares of LPL Financial from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. LPL Financial currently has a consensus rating of “Hold” and an average target price of $79.09.

LPLA stock opened at $66.37 on Tuesday. LPL Financial has a 1 year low of $44.08 and a 1 year high of $73.28. The stock has a market capitalization of $5.80 billion, a P/E ratio of 22.12, a P/E/G ratio of 0.85 and a beta of 1.70. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 2.36.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.10. LPL Financial had a net margin of 7.09% and a return on equity of 35.98%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. LPL Financial’s revenue was up 21.9% on a year-over-year basis. equities analysts anticipate that LPL Financial will post 5.19 earnings per share for the current fiscal year.

In other news, Director John Andrew Kalbaugh sold 1,627 shares of the stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $70.20, for a total transaction of $114,215.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $66.90, for a total transaction of $401,400.00. Following the sale, the chief executive officer now owns 239,761 shares in the company, valued at approximately $16,040,010.90. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of LPLA. Integrated Investment Consultants LLC purchased a new stake in shares of LPL Financial during the second quarter valued at approximately $111,000. Private Capital Group LLC grew its holdings in shares of LPL Financial by 266.9% during 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 last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of LPL Financial during the second quarter valued at approximately $205,000. Calamos Advisors LLC purchased a new stake in shares of LPL Financial during the second quarter valued at approximately $206,000. Finally, Barings LLC purchased a new stake in shares of LPL Financial during the first quarter valued at approximately $214,000. Hedge funds and other institutional investors own 95.58% 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 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.

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