Wall Street Zen Downgrades LPL Financial (NASDAQ:LPLA) to Hold

LPL Financial (NASDAQ:LPLA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Several other equities research analysts have also recently commented on the company. JMP Securities boosted their price target on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Wells Fargo & Company lowered their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley boosted their price target on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and upped their target price for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Finally, Citigroup cut LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price for the company. in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $387.69.

LPL Financial Stock Down 1.4%

NASDAQ:LPLA traded down $5.31 on Friday, hitting $374.08. 427,374 shares of the company's stock traded hands, compared to its average volume of 837,326. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial has a 1 year low of $187.19 and a 1 year high of $390.23. The firm has a 50-day moving average price of $348.98 and a 200-day moving average price of $343.24. The company has a market cap of $29.92 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 0.94 and a beta of 0.67.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.83 EPS. Equities analysts anticipate that LPL Financial will post 19.35 EPS for the current fiscal year.

Institutional Investors Weigh In On LPL Financial

Several hedge funds have recently modified their holdings of LPLA. Summit Securities Group LLC bought a new stake in shares of LPL Financial in the first quarter valued at approximately $26,000. Millstone Evans Group LLC boosted its position in shares of LPL Financial by 123.1% in the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 48 shares during the period. Graney & King LLC bought a new stake in shares of LPL Financial in the fourth quarter valued at approximately $30,000. Private Trust Co. NA boosted its position in shares of LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 68 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after purchasing an additional 39 shares during the period. 95.66% of the stock is owned by institutional investors.

About LPL Financial

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.