Wells Fargo & Company Lowers Raymond James (NYSE:RJF) Price Target to $143.00

Raymond James (NYSE:RJF) had its target price lowered by investment analysts at Wells Fargo & Company from $176.00 to $143.00 in a research note issued 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 would indicate a potential upside of 14.67% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Citigroup reduced their price target on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. The Goldman Sachs Group reduced their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Finally, JMP Securities dropped their price target on Raymond James from $190.00 to $175.00 and set a “market outperform” rating for the company in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $160.27.

Raymond James Stock Performance

Shares of Raymond James stock traded down $0.24 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 has a market cap 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. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The business’s 50 day moving average is $150.54 and its two-hundred day moving average is $151.21.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Analysts forecast that Raymond James will post 11.17 EPS for the current year.

Hedge Funds Weigh In On Raymond James

Several institutional investors and hedge funds have recently added to or reduced their stakes in RJF. TCTC Holdings LLC grew its stake in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares during the last quarter. Y.D. More Investments Ltd grew its position in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 217 shares in the last quarter. Covestor Ltd raised its position in Raymond James by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. acquired a new stake in shares of Raymond James during the fourth quarter valued at about $53,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Company Profile

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.