Jefferies Financial Group Downgrades Royal Bank of Canada (TSE:RY) to Hold

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a C$215.00 price objective on the financial services provider’s stock, up from their previous price objective of C$213.00. Jefferies Financial Group’s price target would suggest a potential downside of 0.03% from the stock’s previous close.

A number of other research firms have also recently weighed in on RY. National Bankshares raised Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$203.00 to C$231.00 in a report on Monday, November 17th. CIBC boosted their target price on shares of Royal Bank of Canada from C$208.00 to C$220.00 in a research note on Wednesday, November 19th. Desjardins upped their target price on shares of Royal Bank of Canada from C$193.00 to C$214.00 and gave the company a “buy” rating in a report on Thursday, August 28th. BMO Capital Markets raised their price target on shares of Royal Bank of Canada from C$190.00 to C$203.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Finally, TD Securities boosted their price objective on shares of Royal Bank of Canada from C$208.00 to C$215.00 in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$216.43.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at C$215.06 on Tuesday. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$215.23. The business has a 50 day moving average price of C$205.85 and a 200 day moving average price of C$190.81. The company has a market capitalization of C$303.30 billion, a P/E ratio of 16.27, a P/E/G ratio of 3.42 and a beta of 1.28.

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.