Cibc World Mkts Upgrades Royal Bank of Canada (TSE:RY) to “Strong-Buy”

Royal Bank of Canada (TSE:RY) (NYSE:RY) was upgraded by equities research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group cut their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. Scotiabank cut their price target on 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. UBS Group boosted their price objective on Royal Bank of Canada from C$192.00 to C$198.00 in a research note on Friday, March 7th. BMO Capital Markets lowered their target price on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. Finally, Cormark reduced their price target on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$181.75.

Royal Bank of Canada Stock Down 2.7 %

RY stock opened at C$157.82 on Thursday. The business has a 50 day moving average price of C$167.08 and a 200 day moving average price of C$170.45. The stock has a market cap of C$223.32 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a fifty-two week low of C$131.57 and a fifty-two week high of C$180.45.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction dated 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. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada 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 transaction of C$53,938.25. Insiders sold a total of 61,836 shares of company stock worth $10,443,690 over 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.