Royal Bank of Canada (TSE:RY) Price Target Cut to C$191.00 by Analysts at Scotiabank

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective cut by equities research analysts at Scotiabank from C$197.00 to C$191.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target indicates a potential upside of 12.87% from the company’s current price.

A number of other research analysts also recently issued reports on RY. CIBC cut their price objective on Royal Bank of Canada from C$176.00 to C$175.00 in a research note on Tuesday. Barclays raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Canaccord Genuity Group increased their price objective on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Jefferies Financial Group lowered their target price on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday. Finally, BMO Capital Markets cut their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$180.50.

Royal Bank of Canada Stock Performance

TSE RY opened at C$169.22 on Thursday. The business’s fifty day moving average is C$172.93 and its 200 day moving average is C$168.95. Royal Bank of Canada has a fifty-two week low of C$130.44 and a fifty-two week high of C$180.45. The company has a market capitalization of C$239.45 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$53,938.25. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the sale, the insider now directly owns 25 shares in the company, valued at C$4,427.24. The trade was a 98.40 % decrease in their ownership of the stock. Over the last three months, insiders sold 22,150 shares of company stock valued at $3,882,024.

Royal Bank of Canada Company Profile

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.