Barclays Boosts Royal Bank of Canada (TSE:RY) Price Target to C$244.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective lifted by Barclays from C$227.00 to C$244.00 in a research report issued on Thursday,BayStreet.CA reports. Barclays‘s price objective would suggest a potential upside of 3.39% from the company’s current price.

RY has been the topic of several other reports. Raymond James Financial boosted their price target on shares of Royal Bank of Canada from C$239.00 to C$248.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group boosted their price target on Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. TD Securities upped their price objective on Royal Bank of Canada from C$246.00 to C$260.00 in a research note on Monday, February 9th. National Bank Financial increased their price objective on Royal Bank of Canada from C$235.00 to C$241.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Canaccord Genuity Group boosted their target price on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$238.31.

Royal Bank of Canada Price Performance

RY opened at C$236.00 on Thursday. The firm has a 50 day simple moving average of C$232.89 and a 200 day simple moving average of C$213.86. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$240.34. The company has a market cap of C$330.45 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. The company had revenue of C$17.21 billion during the quarter. As a group, analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 91,288 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the sale, the director directly owned 5,873 shares in the company, valued at approximately C$1,343,448.75. This trade represents a 93.96% decrease in their position.

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. and other countries.