JMP Securities Has Lowered Expectations for Raymond James (NYSE:RJF) Stock Price

Raymond James (NYSE:RJF) had its price objective decreased by equities researchers at JMP Securities from $190.00 to $175.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ target price would suggest a potential upside of 28.31% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group reduced their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Citigroup reduced their price objective on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $160.27.

Raymond James Price Performance

Shares of NYSE:RJF opened at $136.39 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $27.95 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. The firm’s 50 day moving average price is $147.33 and its 200-day moving average price is $151.01. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Equities research analysts expect that Raymond James will post 11.17 EPS for the current year.

Institutional Investors Weigh In On Raymond James

A number of institutional investors and hedge funds have recently modified their holdings of the business. TCTC Holdings LLC lifted its position in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares in the last quarter. Plato Investment Management Ltd boosted its position in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 217 shares during the period. Quarry LP grew its stake in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 122 shares during the period. 83.83% of the stock is owned by institutional investors.

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.