Zacks Investment Research Upgrades Houlihan Lokey (HLI) to “Strong-Buy”

Houlihan Lokey (NYSE:HLI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $52.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.59% from the stock’s previous close.

According to Zacks, “Houlihan Lokey, Inc. is an investment bank which focuses on mergers and acquisitions, financings, financial restructurings and financial advisory services. The Company’s operating segments consist of Corporate Finance, encompassing M&A and capital markets advisory; Financial Restructuring both out-of-court and in formal bankruptcy or insolvency proceedings; Financial Advisory Services, including financial opinions and a variety of valuation services; and Strategic Consulting, which advises in the areas of strategy development, operations, and performance improvement. It operates primarily in the United States, Europe, Asia and Australia. Houlihan Lokey, Inc. is headquartered in LOS ANGELES, United States. “

A number of other analysts have also issued reports on the company. UBS Group lifted their price target on Houlihan Lokey from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. ValuEngine raised Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. JPMorgan Chase & Co. started coverage on Houlihan Lokey in a research note on Tuesday, September 12th. They issued an “overweight” rating and a $42.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $40.00 price target on shares of Houlihan Lokey in a research note on Sunday, August 27th. Finally, Bank of America lifted their price target on Houlihan Lokey from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Houlihan Lokey presently has a consensus rating of “Buy” and a consensus target price of $45.00.

Shares of Houlihan Lokey (NYSE:HLI) opened at $45.78 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.92 and a quick ratio of 0.92. Houlihan Lokey has a 1-year low of $29.51 and a 1-year high of $46.99. The company has a market capitalization of $3,018.98, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 3.05 and a beta of 0.42.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $242.20 million for the quarter, compared to analyst estimates of $207.72 million. Houlihan Lokey had a return on equity of 19.71% and a net margin of 14.58%. Houlihan Lokey’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. equities research analysts anticipate that Houlihan Lokey will post 2.1 EPS for the current year.

In other Houlihan Lokey news, major shareholder Orix Hlhz Holding Llc sold 1,750,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $41.63, for a total transaction of $72,852,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott Joseph Adelson sold 60,589 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $41.63, for a total value of $2,522,320.07. Following the transaction, the insider now directly owns 90,683 shares in the company, valued at approximately $3,775,133.29. The disclosure for this sale can be found here. Insiders have sold 2,120,627 shares of company stock worth $88,281,702 in the last three months. 69.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in Houlihan Lokey by 12.3% in the second quarter. Legal & General Group Plc now owns 5,198 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 570 shares during the period. Victory Capital Management Inc. raised its position in Houlihan Lokey by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,398 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 808 shares during the period. GSA Capital Partners LLP raised its position in Houlihan Lokey by 3.5% in the second quarter. GSA Capital Partners LLP now owns 49,601 shares of the financial services provider’s stock valued at $1,731,000 after purchasing an additional 1,691 shares during the period. Tower Research Capital LLC TRC raised its position in Houlihan Lokey by 122.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 2,371 shares during the period. Finally, Menta Capital LLC raised its position in Houlihan Lokey by 2.8% in the second quarter. Menta Capital LLC now owns 99,657 shares of the financial services provider’s stock valued at $3,478,000 after purchasing an additional 2,698 shares during the period. 34.61% of the stock is currently owned by institutional investors.

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About Houlihan Lokey

Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), capital markets, financial restructuring, valuation, and strategic consulting. The Company operates through four segments: Corporate Finance, Financial Restructuring, Financial Advisory Services and Strategic Consulting.

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