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

Raymond James (NYSE:RJF) had its price target dropped by research analysts at The Goldman Sachs Group from $198.00 to $173.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 40.07% from the company’s current price.

A number of other research analysts have also weighed in on the stock. JMP Securities lifted their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their target price on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Morgan Stanley increased their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $164.64.

Raymond James Stock Down 5.2 %

RJF stock opened at $123.51 on Thursday. The stock has a fifty day moving average of $151.43 and a 200-day moving average of $150.78. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a market capitalization of $25.31 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.90 and a beta of 0.94. 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 (NYSE:RJF) last issued 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 net margin of 14.06% and a return on equity of 19.71%. As a group, equities research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Hedge Funds Weigh In On Raymond James

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TCTC Holdings LLC boosted its holdings in shares of 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 in the last quarter. Y.D. More Investments Ltd grew its position in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd raised its stake in shares of Raymond James by 1,142.1% during 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 in the last quarter. Covestor Ltd lifted its holdings in shares of Raymond James by 56.7% in the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new position in shares of Raymond James during the 4th quarter valued at $53,000. Hedge funds and other 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.