Royal Bank of Canada (TSE:RY) Price Target Cut to C$189.00 by Analysts at Cormark

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective reduced by Cormark from C$194.00 to C$189.00 in a report released on Friday,BayStreet.CA reports. Cormark’s price objective indicates a potential upside of 11.89% from the stock’s previous close.

RY has been the subject of a number of other research reports. TD Securities dropped their target price on shares of Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a report on Friday. Canaccord Genuity Group upped their price target on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Scotiabank lowered their target price on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group reduced their price target on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday, February 18th. Finally, National Bankshares boosted their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$181.83.

Royal Bank of Canada Stock Up 1.4 %

Shares of RY traded up C$2.39 during midday trading on Friday, hitting C$168.91. The company’s stock had a trading volume of 1,002,040 shares, compared to its average volume of 4,491,055. Royal Bank of Canada has a one year low of C$130.44 and a one year high of C$180.45. The stock has a market capitalization of C$239.01 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company’s fifty day simple moving average is C$172.49 and its two-hundred day simple moving average is C$169.54.

Insiders Place Their Bets

In related news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Monday, February 24th. The stock was sold at an average price of C$169.67, for a total value of C$52,257.10. In the last ninety days, insiders sold 42,762 shares of company stock worth $7,379,177.

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.