Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) had its price target cut by equities research analysts at Credit Suisse Group to C$152.00 in a report released on Friday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Credit Suisse Group’s price target indicates a potential upside of 16.46% from the stock’s previous close.
A number of other brokerages have also weighed in on RY. CSFB set a C$153.00 target price on Royal Bank of Canada and gave the stock an “outperform” rating in a research note on Friday, May 20th. Fundamental Research lowered their price objective on Royal Bank of Canada from C$152.07 to C$151.16 and set a “buy” rating on the stock in a research note on Monday, March 7th. Scotiabank decreased their price target on Royal Bank of Canada from C$150.00 to C$147.00 in a research note on Friday, May 20th. National Bankshares raised their price objective on Royal Bank of Canada from C$140.00 to C$147.00 in a report on Wednesday, February 23rd. Finally, Canaccord Genuity Group raised their price objective on Royal Bank of Canada from C$148.00 to C$150.00 in a report on Thursday, February 17th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$149.47.
TSE RY traded up C$1.98 during trading hours on Friday, hitting C$130.52. 599,995 shares of the company traded hands, compared to its average volume of 4,156,369. The business’s 50-day moving average is C$133.75 and its 200-day moving average is C$136.35. Royal Bank of Canada has a twelve month low of C$123.70 and a twelve month high of C$149.60. The stock has a market capitalization of C$184.90 billion and a price-to-earnings ratio of 11.61.
In related news, Senior Officer Helena Gottschling sold 404 shares of the stock in a transaction on Friday, April 22nd. The stock was sold at an average price of C$135.38, for a total value of C$54,692.51. Following the transaction, the insider now owns 1,373 shares of the company’s stock, valued at C$185,873.31. Also, Director David Ian Mckay sold 4,077 shares of the stock in a transaction on Friday, May 20th. The shares were sold at an average price of C$127.00, for a total value of C$517,795.31. Following the completion of the transaction, the director now directly owns 5,873 shares in the company, valued at approximately C$745,894.49. Insiders sold a total of 12,635 shares of company stock worth $1,704,690 in the last 90 days.
About Royal Bank of Canada (Get Rating)
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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