Brokerages Set Raymond James (NYSE:RJF) Price Target at $140.91

Raymond James (NYSE:RJF - Get Free Report) has earned an average recommendation of "Hold" from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $140.91.

Several research analysts have recently weighed in on RJF shares. JMP Securities upped their price target on shares of Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a report on Thursday, October 24th. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Bank of America boosted their price target on Raymond James from $136.00 to $152.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Finally, Morgan Stanley boosted their target price on shares of Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th.

Raymond James Trading Down 0.3 %

Shares of RJF stock traded down $0.44 during trading hours on Wednesday, hitting $162.18. 939,736 shares of the company were exchanged, compared to its average volume of 1,140,972. The company has a 50 day simple moving average of $138.02 and a two-hundred day simple moving average of $125.34. The firm has a market cap of $33.40 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a fifty-two week low of $102.42 and a fifty-two week high of $164.33.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.13 earnings per share. Equities analysts anticipate that Raymond James will post 10.83 EPS for the current year.

Hedge Funds Weigh In On Raymond James

Large investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC lifted its holdings in shares of Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock worth $25,000 after purchasing an additional 198 shares during the period. Quarry LP purchased a new position in shares of Raymond James during the 2nd quarter valued at about $29,000. Covestor Ltd lifted its holdings in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider's stock valued at $31,000 after buying an additional 104 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James in the third quarter worth about $32,000. Finally, Gladius Capital Management LP acquired a new stake in Raymond James during the third quarter worth about $34,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.