TD Cowen Forecasts Strong Price Appreciation for Raymond James (NYSE:RJF) Stock

Raymond James (NYSE:RJF) had its price objective hoisted by equities researchers at TD Cowen from $128.00 to $150.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective would suggest a potential upside of 1.20% from the company’s current price.

RJF has been the subject of several other research reports. Morgan Stanley increased their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Bank of America increased their price objective on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. JMP Securities increased their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Trading Down 0.6 %

NYSE:RJF opened at $148.22 on Wednesday. The stock has a fifty day moving average price of $126.85 and a two-hundred day moving average price of $122.01. The stock has a market capitalization of $30.52 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.76 and a beta of 1.02. 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 1 year low of $94.53 and a 1 year high of $151.59.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. As a group, sell-side analysts anticipate that Raymond James will post 10.32 earnings per share for the current fiscal year.

Insider Transactions at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Hedge funds have recently modified their holdings of the stock. Wolff Wiese Magana LLC raised its holdings in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the period. Quarry LP acquired a new stake in Raymond James during the 2nd quarter valued at approximately $29,000. Smithfield Trust Co grew its stake in Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares in the last quarter. Covestor Ltd grew its stake in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Raymond James during the 3rd quarter valued at approximately $32,000. 83.83% of the stock is currently owned by hedge funds and other 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.