ValuEngine Downgrades Raymond James (NYSE:RJF) to Sell

Raymond James (NYSE:RJF) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday, ValuEngine reports.

Several other brokerages have also commented on RJF. Citigroup dropped their price target on shares of Raymond James from $87.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, September 19th. Credit Suisse Group dropped their price target on shares of Raymond James from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $94.25.

Shares of RJF traded up $1.44 on Monday, hitting $84.13. 976,512 shares of the stock traded hands, compared to its average volume of 954,067. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $11.45 billion, a P/E ratio of 13.00 and a beta of 1.52. The stock’s 50 day moving average is $81.93 and its two-hundred day moving average is $83.19. Raymond James has a 1 year low of $69.11 and a 1 year high of $92.00.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.06). Raymond James had a net margin of 13.06% and a return on equity of 16.12%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company posted $1.55 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts forecast that Raymond James will post 7.39 EPS for the current year.

In related news, EVP Jonathan N. Santelli sold 1,200 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $84.80, for a total transaction of $101,760.00. Following the completion of the sale, the executive vice president now directly owns 1,078 shares of the company’s stock, valued at approximately $91,414.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jeffrey P. Julien sold 15,756 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $78.59, for a total transaction of $1,238,264.04. Following the sale, the chief financial officer now directly owns 39,592 shares of the company’s stock, valued at $3,111,535.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,354 shares of company stock valued at $2,053,098. Company insiders own 10.74% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC acquired a new stake in Raymond James during the 2nd quarter valued at $31,000. Motco bought a new position in Raymond James during the 2nd quarter valued at $31,000. CSat Investment Advisory L.P. boosted its stake in Raymond James by 78.2% during the 2nd quarter. CSat Investment Advisory L.P. now owns 629 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 276 shares during the last quarter. FTB Advisors Inc. boosted its stake in Raymond James by 944.3% during the 2nd quarter. FTB Advisors Inc. now owns 731 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 661 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Raymond James during the 2nd quarter valued at $62,000. 70.80% of the stock is owned by institutional investors and hedge funds.

About Raymond James

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Raymond James (NYSE:RJF)

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