Raymond James (NYSE:RJF) Reaches New 52-Week High – Still a Buy?

Raymond James (NYSE:RJF)’s share price reached a new 52-week high on Wednesday . The company traded as high as $169.01 and last traded at $168.92, with a volume of 1230541 shares. The stock had previously closed at $167.05.

Analyst Ratings Changes

RJF has been the topic of several recent research reports. Morgan Stanley upped 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. Jefferies Financial Group raised their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. The Goldman Sachs Group boosted their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average price target of $140.91.

Raymond James Stock Up 0.7 %

The company’s 50 day moving average is $142.79 and its 200 day moving average is $126.80. The company has a market cap of $35.03 billion, a PE ratio of 17.52, a P/E/G ratio of 0.98 and a beta of 0.99. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 earnings per share. As a group, analysts predict that Raymond James will post 10.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Raymond James

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its stake in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares during the period. Quarry LP purchased a new stake in shares of Raymond James in the 2nd quarter worth approximately $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James during the third quarter valued at approximately $32,000. Gladius Capital Management LP bought a new position in shares of Raymond James during the third quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. purchased a new position in Raymond James during the third quarter valued at approximately $37,000. Institutional investors own 83.83% of the company’s stock.

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.