TD Cowen Forecasts Strong Price Appreciation for Raymond James (NYSE:RJF) Stock

Raymond James (NYSE:RJF) had its price target upped by analysts at TD Cowen from $128.00 to $150.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 0.73% from the stock’s current price.

A number of other brokerages also recently commented on RJF. The Goldman Sachs Group upped their price objective on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Morgan Stanley upped their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday. UBS Group cut their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JMP Securities increased their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company increased their price target on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus target price of $140.91.

Raymond James Stock Performance

RJF stock traded down $0.10 on Wednesday, hitting $148.92. The company’s stock had a trading volume of 458,602 shares, compared to its average volume of 1,136,812. The firm has a 50 day moving average of $125.55 and a two-hundred day moving average of $121.63. Raymond James has a 1 year low of $94.53 and a 1 year high of $150.91. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. 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 announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The company 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%. Raymond James’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 EPS. Equities analysts predict that Raymond James will post 10.32 EPS for the current fiscal year.

Insider Transactions at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Hedge funds have recently made changes to their positions in the stock. Heritage Wealth Advisors boosted its holdings in Raymond James by 3,480.7% in the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after purchasing an additional 474,622 shares during the period. Ceredex Value Advisors LLC boosted its holdings in Raymond James by 191.3% in the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after purchasing an additional 474,443 shares during the period. AGF Management Ltd. boosted its holdings in Raymond James by 17.2% in the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares during the period. SG Americas Securities LLC boosted its holdings in Raymond James by 820.2% in the first quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after purchasing an additional 176,210 shares during the period. Finally, Earnest Partners LLC boosted its holdings in Raymond James by 5.9% in the first quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock worth $316,966,000 after purchasing an additional 138,075 shares during the period. Institutional investors and hedge funds own 83.83% 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.