Royal Bank of Canada (NYSE:RY) Stock Rating Lowered by StockNews.com

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other analysts also recently commented on the company. Bank of America upgraded Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Monday, December 12th. Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$131.00 to C$136.00 and gave the stock a “buy” rating in a research note on Thursday, December 1st. National Bank Financial lowered their target price on Royal Bank of Canada from C$148.00 to C$147.00 in a research note on Thursday, December 1st. Keefe, Bruyette & Woods upgraded Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 1st. Finally, Desjardins upped their target price on Royal Bank of Canada from C$145.00 to C$147.00 in a research note on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.50.

Royal Bank of Canada Stock Up 0.4 %

Shares of RY opened at $95.26 on Wednesday. Royal Bank of Canada has a 52 week low of $83.63 and a 52 week high of $114.55. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $132.02 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.67 and a beta of 0.84. The stock’s 50-day moving average price is $100.64 and its 200-day moving average price is $96.54.

Hedge Funds Weigh In On Royal Bank of Canada

Large investors have recently bought and sold shares of the business. RFG Advisory LLC raised its holdings in shares of Royal Bank of Canada by 0.6% during the third quarter. RFG Advisory LLC now owns 16,971 shares of the financial services provider’s stock valued at $1,626,000 after acquiring an additional 103 shares during the last quarter. Vident Investment Advisory LLC raised its holdings in shares of Royal Bank of Canada by 1.1% during the first quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock valued at $1,095,000 after acquiring an additional 105 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Royal Bank of Canada by 4.2% during the fourth quarter. AE Wealth Management LLC now owns 2,640 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 107 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of Royal Bank of Canada by 1.9% during the third quarter. Merit Financial Group LLC now owns 5,996 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 111 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Royal Bank of Canada by 0.7% during the second quarter. Brown Brothers Harriman & Co. now owns 17,651 shares of the financial services provider’s stock valued at $1,709,000 after acquiring an additional 119 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

About Royal Bank of Canada

(Get Rating)

Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.

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Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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