Raymond James (NYSE:RJF) Upgraded at StockNews.com

Raymond James (NYSE:RJFGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other analysts have also issued research reports about the company. Citigroup decreased their price target on Raymond James from $205.00 to $195.00 in a report on Friday, April 29th. Zacks Investment Research lowered Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 price target on the stock. in a report on Wednesday, March 30th. Seaport Res Ptn upgraded Raymond James from a “neutral” rating to a “buy” rating in a report on Friday, January 28th. Finally, Morgan Stanley increased their price target on Raymond James from $128.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, April 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Raymond James presently has a consensus rating of “Buy” and a consensus price target of $129.62.

NYSE RJF opened at $94.99 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market capitalization of $19.78 billion, a P/E ratio of 13.39 and a beta of 1.09. Raymond James has a one year low of $81.96 and a one year high of $117.37. The stock has a 50 day moving average price of $104.05 and a 200-day moving average price of $103.28.

Raymond James (NYSE:RJFGet Rating) last posted its earnings results on Wednesday, April 27th. The financial services provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.07). Raymond James had a net margin of 13.97% and a return on equity of 19.17%. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts predict that Raymond James will post 7.46 EPS for the current fiscal year.

In related news, insider James E. Bunn sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $100.21, for a total transaction of $601,260.00. Following the sale, the insider now owns 25,096 shares of the company’s stock, valued at $2,514,870.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.25% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of RJF. Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the fourth quarter worth about $27,000. Evoke Wealth LLC boosted its holdings in Raymond James by 1,780.0% in the fourth quarter. Evoke Wealth LLC now owns 282 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 267 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Raymond James by 59.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 327 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 122 shares in the last quarter. CWM LLC acquired a new stake in Raymond James in the fourth quarter worth about $34,000. Finally, Covestor Ltd boosted its holdings in Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 138 shares in the last quarter. 76.98% of the stock is owned by institutional investors and hedge funds.

About Raymond James (Get Rating)

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.

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