National Bankshares Forecasts Strong Price Appreciation for Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target hoisted by National Bankshares from C$181.00 to C$188.00 in a research report issued on Thursday,BayStreet.CA reports. National Bankshares’ target price would indicate a potential upside of 5.19% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. CIBC upped their price target on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Canaccord Genuity Group upped their price target on shares of Royal Bank of Canada from C$172.00 to C$188.00 in a research report on Tuesday, November 19th. Cormark upped their price target on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. BMO Capital Markets upped their price target on shares of Royal Bank of Canada from C$165.00 to C$195.00 in a research report on Monday, November 18th. Finally, Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$176.58.

Royal Bank of Canada Price Performance

RY stock traded up C$2.46 during trading on Thursday, reaching C$178.72. 1,096,353 shares of the company were exchanged, compared to its average volume of 4,782,034. The company has a 50-day moving average of C$171.38 and a two-hundred day moving average of C$158.69. The company has a market capitalization of C$252.00 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$123.44 and a twelve month high of C$179.86.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of C$165.00, for a total transaction of C$2,475,000.00. Following the sale, the insider now owns 25 shares in the company, valued at approximately C$4,125. The trade was a 99.83 % decrease in their position. Insiders sold a total of 59,918 shares of company stock worth $9,993,149 over the last three months.

About Royal Bank of Canada

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.