Raymond James (NYSE:RJF) Sets New 12-Month High – Time to Buy?

Raymond James (NYSE:RJF)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $169.01 and last traded at $168.92, with a volume of 1230541 shares. The stock had previously closed at $167.05.

Wall Street Analyst Weigh In

Several research firms have commented on RJF. Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price target on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, JMP Securities upped their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Raymond James presently has an average rating of “Hold” and an average target price of $140.91.

Raymond James Stock Up 0.7 %

The firm has a market capitalization of $35.03 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The business has a fifty day moving average price of $142.79 and a two-hundred day moving average price of $126.80.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $2.13 EPS. On average, equities analysts expect that Raymond James will post 10.83 earnings per share for the current year.

Hedge Funds Weigh In On Raymond James

A number of institutional investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC boosted its stake in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the last quarter. Quarry LP purchased a new stake in Raymond James in the 2nd quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James during the 3rd quarter worth approximately $32,000. Gladius Capital Management LP purchased a new position in shares of Raymond James during the 3rd quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Raymond James in the 3rd quarter valued at $37,000. Hedge funds and other 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.