Zacks Investment Research upgraded shares of TD Ameritrade Holding Corporation (NASDAQ:AMTD) from a hold rating to a strong-buy rating in a report released on Tuesday morning. They currently have $56.00 target price on the financial services provider’s stock.

According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past year. Yet, the company’s earnings surprise history is not that impressive. It surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. We remain cautious of the elevated costs, which are likely to weigh on the financials. However, the company recorded a rise in average client trades per day in the fiscal third quarter with the trend continuing in the first two months of the current quarter. Further, its deal to acquire Scottrade is likely to be accretive to earnings per share (EPS) in double digits. Also, TD Ameritrade’s steady capital deployment activities and revenue growth are encouraging.”

A number of other analysts also recently weighed in on the stock. BidaskClub raised shares of TD Ameritrade Holding Corporation from a buy rating to a strong-buy rating in a research report on Thursday, June 29th. SunTrust Banks, Inc. restated a buy rating and set a $50.00 price target (up previously from $46.00) on shares of TD Ameritrade Holding Corporation in a report on Wednesday, July 19th. Morgan Stanley restated an equal weight rating and issued a $43.00 price target (up previously from $40.00) on shares of TD Ameritrade Holding Corporation in a research report on Tuesday, July 25th. Jefferies Group LLC boosted their price target on shares of TD Ameritrade Holding Corporation from $40.00 to $48.00 and gave the stock a hold rating in a research report on Monday, June 19th. Finally, Rosenblatt Securities assumed coverage on shares of TD Ameritrade Holding Corporation in a research note on Thursday, July 13th. They issued a buy rating and a $50.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $45.93.

Shares of TD Ameritrade Holding Corporation (NASDAQ:AMTD) traded down 0.14% during midday trading on Tuesday, reaching $49.51. 535,203 shares of the company’s stock traded hands. The stock has a market cap of $26.15 billion, a P/E ratio of 30.94 and a beta of 1.55. TD Ameritrade Holding Corporation has a 52-week low of $33.26 and a 52-week high of $49.60. The stock has a 50-day moving average price of $44.74 and a 200-day moving average price of $41.69.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The company had revenue of $931.00 million during the quarter, compared to the consensus estimate of $897.98 million. TD Ameritrade Holding Corporation had a return on equity of 16.09% and a net margin of 24.01%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. Analysts forecast that TD Ameritrade Holding Corporation will post $1.69 earnings per share for the current year.

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In other TD Ameritrade Holding Corporation news, Director Joseph H. Moglia sold 15,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $44.66, for a total transaction of $669,900.00. Following the completion of the sale, the director now owns 155,000 shares in the company, valued at approximately $6,922,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Luxembourg International Ho Td purchased 11,074,197 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were acquired at an average price of $36.12 per share, with a total value of $399,999,995.64. The disclosure for this purchase can be found here. 0.42% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its stake in shares of TD Ameritrade Holding Corporation by 10.5% in the second quarter. Public Employees Retirement System of Ohio now owns 113,288 shares of the financial services provider’s stock valued at $4,870,000 after buying an additional 10,781 shares in the last quarter. Bank of Nova Scotia acquired a new position in shares of TD Ameritrade Holding Corporation during the second quarter valued at about $2,317,000. The Manufacturers Life Insurance Company grew its holdings in shares of TD Ameritrade Holding Corporation by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 17,904 shares of the financial services provider’s stock valued at $769,000 after buying an additional 1,133 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of TD Ameritrade Holding Corporation during the second quarter valued at about $413,000. Finally, State Street Corp increased its position in shares of TD Ameritrade Holding Corporation by 0.5% during the second quarter. State Street Corp now owns 4,752,164 shares of the financial services provider’s stock worth $204,291,000 after acquiring an additional 23,599 shares in the last quarter. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

About TD Ameritrade Holding Corporation

TD Ameritrade Holding Corporation is a provider of securities brokerage services and related technology-based financial services. The Company provides its services to retail investors, traders and independent registered investment advisors (RIAs). The Company provides its services through the Internet, a national branch network and relationships with RIAs.

Analyst Recommendations for TD Ameritrade Holding Corporation (NASDAQ:AMTD)

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