Raymond James (NYSE:RJF) Rating Increased to Buy at StockNews.com

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

Several other brokerages have also commented on RJF. Zacks Investment Research lowered shares of Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 price target on the stock. in a research note on Wednesday, March 30th. Morgan Stanley raised their target price on shares of Raymond James from $128.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, April 11th. Finally, Citigroup lowered their target price on shares of Raymond James from $205.00 to $195.00 in a research report on Friday, April 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $136.22.

Shares of Raymond James stock opened at $97.36 on Tuesday. The firm has a market capitalization of $20.28 billion, a P/E ratio of 13.73 and a beta of 1.09. Raymond James has a 52 week low of $81.96 and a 52 week high of $117.37. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $101.71 and its two-hundred day moving average is $102.86.

Raymond James (NYSE:RJFGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.07). The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Raymond James had a net margin of 13.97% and a return on equity of 19.36%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. As a group, research analysts expect that Raymond James will post 7.46 earnings per share for the current fiscal year.

In related news, insider James E. Bunn sold 6,000 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $100.21, for a total transaction of $601,260.00. Following the completion of the sale, the insider now directly 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 institutional investors have recently added to or reduced their stakes in RJF. Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the fourth quarter valued at $27,000. Evoke Wealth LLC increased its position in shares of Raymond James by 1,780.0% in the fourth quarter. Evoke Wealth LLC now owns 282 shares of the financial services provider’s stock valued at $28,000 after buying an additional 267 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Raymond James by 59.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 327 shares of the financial services provider’s stock valued at $33,000 after buying an additional 122 shares in the last quarter. CWM LLC purchased a new position in shares of Raymond James in the fourth quarter valued at $34,000. Finally, Covestor Ltd increased its position in shares of Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after buying an additional 138 shares in the last quarter. 76.98% of the stock is owned by institutional investors.

Raymond James Company Profile (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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