LPL Financial Holdings Upgraded to “Buy” by Citigroup Inc. (LPLA)

LPL Financial Holdings (NASDAQ:LPLA) was upgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued on Thursday, reports.

Shares of LPL Financial Holdings (NASDAQ:LPLA) traded up 2.65% during mid-day trading on Thursday, hitting $39.07. LPL Financial Holdings has a 52 week low of $23.17 and a 52 week high of $39.80. The stock’s 50-day moving average is currently $37.81. The company has a market cap of $4.155 billion and a P/E ratio of 25.27.

LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $999.14 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts expect that LPL Financial Holdings will post $2.32 EPS for the current fiscal year.

A number of other firms have also recently commented on LPLA. Analysts at Susquehanna raised their price target on shares of LPL Financial Holdings from $28.00 to $30.00 in a research note to investors on Monday, July 15th. They now have a “negative” rating on the stock. Separately, analysts at TheStreet upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note to investors on Friday, July 12th. Finally, analysts at Keefe, Bruyette & Woods reiterated a “hold” rating on shares of LPL Financial Holdings in a research note to investors on Tuesday, July 9th. They now have a $38.00 price target on the stock, up previously from $36.00.

Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $35.98.

LPL Financial Holdings Inc, formerly LPL Investment Holdings Inc, is a holding company. The Company provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions (NASDAQ:LPLA) in the United States of America.

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