Buckingham Research Increases Raymond James Financial, Inc. (NYSE:RJF) Price Target to $96.00

Raymond James Financial, Inc. (NYSE:RJF) had its price target raised by analysts at Buckingham Research from $92.00 to $96.00 in a report issued on Friday, October 27th. The firm currently has a “buy” rating on the financial services provider’s stock. Buckingham Research’s price objective suggests a potential upside of 15.62% from the company’s previous close.

RJF has been the topic of a number of other research reports. BidaskClub upgraded Raymond James Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a research note on Tuesday, August 29th. Zacks Investment Research cut Raymond James Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $86.00 to $90.00 in a research report on Thursday, September 14th. Finally, Instinet reaffirmed a “buy” rating and set a $90.00 price objective (up from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Raymond James Financial presently has an average rating of “Buy” and an average price target of $89.67.

Raymond James Financial (NYSE:RJF) traded down $0.34 during trading on Friday, reaching $83.03. The company’s stock had a trading volume of 667,500 shares, compared to its average volume of 786,458. Raymond James Financial has a 52 week low of $68.97 and a 52 week high of $87.22. The stock has a market capitalization of $11,920.00, a PE ratio of 16.41, a PEG ratio of 0.83 and a beta of 1.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.14 and a current ratio of 1.17.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.15. Raymond James Financial had a return on equity of 13.97% and a net margin of 9.75%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the business posted $1.28 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. equities research analysts predict that Raymond James Financial will post 5.89 EPS for the current fiscal year.

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Large investors have recently made changes to their positions in the business. Bank of Nova Scotia acquired a new stake in Raymond James Financial during the 1st quarter valued at $2,243,000. Greenwood Capital Associates LLC purchased a new position in shares of Raymond James Financial during the 2nd quarter worth $300,000. Tower Research Capital LLC TRC lifted its stake in shares of Raymond James Financial by 1,611.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,252 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 3,062 shares during the period. Principal Financial Group Inc. raised its position in shares of Raymond James Financial by 16.1% in the 2nd quarter. Principal Financial Group Inc. now owns 360,741 shares of the financial services provider’s stock worth $28,938,000 after buying an additional 50,132 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Raymond James Financial by 489.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock worth $38,146,000 after buying an additional 391,701 shares during the period. Hedge funds and other institutional investors own 69.03% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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