Raymond James (NYSE:RJF) Price Target Cut to $143.00 by Analysts at Wells Fargo & Company

Raymond James (NYSE:RJF) had its price target decreased by analysts at Wells Fargo & Company from $176.00 to $143.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 14.67% from the company’s current price.

RJF has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Bank of America increased their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group lowered their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, Citigroup reduced their price objective on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $160.27.

Raymond James Trading Down 0.2 %

RJF traded down $0.24 during mid-day trading on Tuesday, hitting $124.70. The stock had a trading volume of 2,524,936 shares, compared to its average volume of 1,272,457. The stock’s fifty day simple moving average is $150.54 and its 200-day simple moving average is $151.21. The firm has a market capitalization of $25.55 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, research analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Coldstream Capital Management Inc. lifted its stake in Raymond James by 1.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 64 shares during the last quarter. CX Institutional raised its stake in Raymond James by 2.9% in the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after buying an additional 66 shares during the period. Crestwood Advisors Group LLC lifted its position in shares of Raymond James by 3.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after buying an additional 67 shares during the last quarter. Formidable Asset Management LLC boosted its stake in shares of Raymond James by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock worth $1,227,000 after acquiring an additional 67 shares during the period. Finally, Stablepoint Partners LLC increased its holdings in shares of Raymond James by 0.5% during the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after acquiring an additional 73 shares during the last quarter. Institutional investors 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.