Barclays Forecasts Strong Price Appreciation for Raymond James Financial (NYSE:RJF) Stock

Raymond James Financial (NYSE:RJFGet Free Report) had its price target hoisted by Barclays from $182.00 to $192.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 14.18% from the stock’s current price.

Other analysts also recently issued reports about the stock. BMO Capital Markets upped their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Jefferies Financial Group lowered their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. UBS Group restated a “neutral” rating and issued a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Finally, TD Cowen lowered their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $176.64.

Check Out Our Latest Analysis on RJF

Raymond James Financial Trading Down 0.3%

NYSE RJF opened at $168.15 on Thursday. The firm has a market capitalization of $32.77 billion, a PE ratio of 15.89, a P/E/G ratio of 1.30 and a beta of 0.93. The stock’s 50 day moving average is $154.40 and its 200 day moving average is $156.32. Raymond James Financial has a twelve month low of $138.82 and a twelve month high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJFGet Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 earnings per share. Research analysts forecast that Raymond James Financial will post 11.76 earnings per share for the current fiscal year.

Institutional Trading of Raymond James Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Reflection Asset Management purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial in the 4th quarter valued at approximately $32,000. Harbor Investment Advisory LLC boosted its stake in Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Raymond James Financial during the 4th quarter valued at $35,000. Finally, Steigerwald Gordon & Koch Inc. increased its holdings in shares of Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 228 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial News Roundup

Here are the key news stories impacting Raymond James Financial this week:

Raymond James Financial Company Profile

(Get Free Report)

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

Further Reading

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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