Raymond James (NYSE:RJF) had its target price lifted by research analysts at Compass Point from $65.00 to $80.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Compass Point’s price target indicates a potential upside of 6.09% from the company’s previous close.

A number of other research analysts have also recently commented on RJF. TheStreet upgraded shares of Raymond James from a “c+” rating to a “b-” rating in a report on Friday, September 4th. Seaport Global Securities initiated coverage on Raymond James in a report on Wednesday, July 8th. They issued a “neutral” rating for the company. ValuEngine raised Raymond James from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Morgan Stanley lowered their price target on Raymond James from $95.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, Zacks Investment Research downgraded Raymond James from a “hold” rating to a “sell” rating and set a $78.00 price target for the company. in a report on Monday, August 10th. Three analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Raymond James currently has an average rating of “Hold” and an average target price of $76.14.

Shares of NYSE RJF traded up $1.07 during mid-day trading on Wednesday, reaching $75.41. The company had a trading volume of 1,926 shares, compared to its average volume of 1,072,861. The business’s 50-day moving average is $74.32 and its 200-day moving average is $69.98. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 12.22 and a beta of 1.35. Raymond James has a 52 week low of $54.21 and a 52 week high of $102.45.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.26. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Raymond James had a net margin of 10.75% and a return on equity of 13.04%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 earnings per share. As a group, equities research analysts forecast that Raymond James will post 5.47 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in RJF. Primecap Management Co. CA grew its holdings in Raymond James by 40.0% during the first quarter. Primecap Management Co. CA now owns 4,390,345 shares of the financial services provider’s stock worth $277,470,000 after purchasing an additional 1,255,195 shares during the period. Bank of America Corp DE raised its holdings in shares of Raymond James by 29.2% in the 2nd quarter. Bank of America Corp DE now owns 3,132,535 shares of the financial services provider’s stock worth $215,613,000 after purchasing an additional 708,196 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Raymond James by 75.5% in the 2nd quarter. Principal Financial Group Inc. now owns 739,170 shares of the financial services provider’s stock worth $50,877,000 after purchasing an additional 318,072 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Raymond James in the 2nd quarter worth about $15,732,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Raymond James in the 1st quarter worth about $13,576,000. Hedge funds and other institutional investors own 77.31% of the company’s stock.

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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Analyst Recommendations for Raymond James (NYSE:RJF)

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