Royal Bank of Canada (TSE:RY) Stock Rating Lowered by Cibc World Mkts

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report released on Friday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. UBS Group dropped their target price on Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. Bank of America upped their price target on Royal Bank of Canada from C$214.00 to C$227.00 in a report on Thursday, August 28th. National Bank Financial cut Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 29th. TD Securities upped their price target on Royal Bank of Canada from C$191.00 to C$208.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. Finally, Scotiabank upped their price target on Royal Bank of Canada from C$186.00 to C$210.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$206.00.

Royal Bank of Canada Trading Down 0.7%

TSE RY opened at C$200.22 on Friday. The business’s 50 day moving average is C$185.43 and its two-hundred day moving average is C$173.76. Royal Bank of Canada has a 12-month low of C$151.25 and a 12-month high of C$204.60. The stock has a market capitalization of C$282.37 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 3.42 and a beta of 1.17.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 20,304 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total transaction of C$3,701,453.72. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of C$182.30, for a total value of C$56,148.92. In the last 90 days, insiders have sold 42,026 shares of company stock worth $7,517,844.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.