Raymond James (NYSE:RJF) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Other research analysts have also issued research reports about the company. Wells Fargo & Co restated a “buy” rating on shares of Raymond James in a research report on Thursday, January 24th. Argus started coverage on Raymond James in a research report on Wednesday, March 6th. They set a “buy” rating and a $92.00 target price for the company. Compass Point started coverage on Raymond James in a research report on Monday, March 11th. They set a “buy” rating and a $96.00 target price for the company. Finally, Zacks Investment Research upgraded Raymond James from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $95.20.

Shares of NYSE:RJF opened at $79.41 on Wednesday. Raymond James has a 1 year low of $69.11 and a 1 year high of $102.17. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.67 and a beta of 1.56. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.48.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.06. Raymond James had a return on equity of 15.86% and a net margin of 12.79%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts anticipate that Raymond James will post 7.15 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Man Group plc boosted its holdings in shares of Raymond James by 134.6% in the third quarter. Man Group plc now owns 32,465 shares of the financial services provider’s stock valued at $2,988,000 after purchasing an additional 18,627 shares during the period. Private Capital Group LLC boosted its holdings in shares of Raymond James by 103.4% in the fourth quarter. Private Capital Group LLC now owns 708 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 360 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of Raymond James by 27.5% in the fourth quarter. CENTRAL TRUST Co now owns 2,382 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 514 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Raymond James by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 2,642,714 shares of the financial services provider’s stock valued at $243,262,000 after purchasing an additional 11,510 shares during the period. Finally, Vanguard Group Inc boosted its holdings in shares of Raymond James by 1.3% in the third quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock valued at $1,266,683,000 after purchasing an additional 182,616 shares during the period. Hedge funds and other institutional investors own 70.89% 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.

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Analyst Recommendations for Raymond James (NYSE:RJF)

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