The Goldman Sachs Group Issues Pessimistic Forecast for Raymond James (NYSE:RJF) Stock Price

Raymond James (NYSE:RJF) had its price target decreased by analysts at The Goldman Sachs Group from $198.00 to $173.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 29.09% from the company’s previous close.

A number of other equities analysts have also recently issued reports on RJF. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Citigroup reduced their price target on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Bank of America raised their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. 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 MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average target price of $164.64.

Raymond James Trading Down 5.5 %

RJF stock traded down $7.87 during trading on Thursday, hitting $134.02. 973,869 shares of the company traded hands, compared to its average volume of 1,434,830. The company has a 50-day moving average of $153.24 and a 200-day moving average of $150.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm has a market capitalization of $27.46 billion, a PE ratio of 13.08, a P/E/G ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating 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 predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RJF. TCTC Holdings LLC grew its position in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the period. Y.D. More Investments Ltd grew its holdings in shares of Raymond James by 121.0% in the fourth 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 period. Plato Investment Management Ltd grew its holdings in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares during the period. Quarry LP increased its position in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares during the last quarter. Finally, Covestor Ltd lifted its holdings 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 acquiring an additional 122 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.