National Bankshares Issues Pessimistic Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price reduced by equities researchers at National Bankshares from C$190.00 to C$179.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bankshares’ price target would suggest a potential upside of 15.87% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on RY. UBS Group lifted their target price on Royal Bank of Canada from C$192.00 to C$198.00 in a report on Friday, March 7th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. TD Securities cut their price objective on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Cormark decreased their target price on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a report on Friday, February 28th. Finally, Scotiabank dropped their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada currently has an average rating of “Buy” and a consensus price target of C$181.00.

Royal Bank of Canada Stock Performance

Shares of TSE:RY opened at C$154.49 on Monday. The stock has a market capitalization of C$218.60 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$131.57 and a 1-year high of C$180.45. The company has a 50 day moving average price of C$165.79 and a 200 day moving average price of C$170.19.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business’s stock in a transaction on 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, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. Insiders have sold a total of 61,836 shares of company stock worth $10,443,690 in the last 90 days.

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.