Keefe, Bruyette & Woods Has Lowered Expectations for Houlihan Lokey (NYSE:HLI) Stock Price

Houlihan Lokey (NYSE:HLI) had its price objective decreased by Keefe, Bruyette & Woods from $230.00 to $228.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 30.50% from the stock’s current price.

Several other brokerages have also recently weighed in on HLI. Zacks Research cut Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Morgan Stanley increased their target price on shares of Houlihan Lokey from $192.00 to $213.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. UBS Group assumed coverage on shares of Houlihan Lokey in a research report on Thursday, December 11th. They issued a “neutral” rating and a $193.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Houlihan Lokey in a research note on Thursday, October 9th. They issued a “hold” rating and a $210.00 price objective on the stock. Finally, BMO Capital Markets initiated coverage on shares of Houlihan Lokey in a research note on Friday, October 3rd. They set an “outperform” rating and a $230.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Houlihan Lokey has a consensus rating of “Moderate Buy” and an average target price of $207.43.

Houlihan Lokey Stock Down 1.6%

Shares of HLI stock traded down $2.76 during trading hours on Wednesday, hitting $174.71. 220,212 shares of the company’s stock traded hands, compared to its average volume of 414,716. The stock has a market cap of $12.24 billion, a PE ratio of 28.18 and a beta of 0.95. The stock’s 50 day simple moving average is $183.25 and its 200 day simple moving average is $188.61. Houlihan Lokey has a 12 month low of $137.99 and a 12 month high of $211.78.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.15. The company had revenue of $659.45 million for the quarter, compared to analysts’ expectations of $639.08 million. Houlihan Lokey had a net margin of 16.62% and a return on equity of 24.17%. Houlihan Lokey’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. As a group, equities research analysts expect that Houlihan Lokey will post 5.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Houlihan Lokey

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Houlihan Lokey by 0.3% during the third quarter. Vanguard Group Inc. now owns 5,305,182 shares of the financial services provider’s stock valued at $1,089,260,000 after purchasing an additional 13,750 shares during the period. Burgundy Asset Management Ltd. increased its position in Houlihan Lokey by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,225,966 shares of the financial services provider’s stock valued at $220,613,000 after buying an additional 36,144 shares in the last quarter. Mayflower Financial Advisors LLC acquired a new position in Houlihan Lokey during the 3rd quarter worth approximately $230,335,000. Bank of America Corp DE boosted its holdings in Houlihan Lokey by 4.1% in the second quarter. Bank of America Corp DE now owns 1,041,990 shares of the financial services provider’s stock worth $187,506,000 after acquiring an additional 41,470 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Houlihan Lokey by 2.1% in the second quarter. Geode Capital Management LLC now owns 1,041,590 shares of the financial services provider’s stock valued at $187,462,000 after acquiring an additional 21,132 shares during the period. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.