NEW YORK (TheStreet) -- Shares of LPL Financial  (LPLA) were surging 8.06% to $33.38 on heavy trading volume late Tuesday afternoon as the broker-dealer explores strategic alternatives including a sale, sources told Reuters.

The company is working with Goldman Sachs (GS) on a potential sale that has garnered interest from companies and private equity firms, according to Reuters.

About 1.38 million shares of LPL Financial have been traded so far today, well above the company's average trading volume of roughly 511,837 shares a day.

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.

LPL Financial's strengths such as its attractive valuation levels, notable return on equity and growth in earnings per share outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: LPLA

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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