StockNews.com Downgrades Royal Bank of Canada (NYSE:RY) to Sell

Royal Bank of Canada (NYSE:RY) (TSE:RY) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently issued reports on RY. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 1.0 %

NYSE RY opened at $121.23 on Thursday. The firm’s 50 day moving average price is $114.67 and its two-hundred day moving average price is $119.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a twelve month low of $99.99 and a twelve month high of $128.05. The stock has a market cap of $171.14 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.80 and a beta of 0.82.

Hedge Funds Weigh In On Royal Bank of Canada

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $25,000. Roxbury Financial LLC bought a new stake in Royal Bank of Canada during the fourth quarter valued at about $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter valued at about $28,000. Sunbelt Securities Inc. increased its stake in shares of Royal Bank of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the period. Finally, Optiver Holding B.V. acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Company Profile

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.