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

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price hoisted by stock analysts at National Bankshares from C$181.00 to C$188.00 in a research note issued on Thursday,BayStreet.CA reports. National Bankshares’ price target suggests a potential upside of 5.46% from the stock’s previous close.

A number of other research analysts have also commented on RY. BMO Capital Markets increased their price objective on Royal Bank of Canada from C$165.00 to C$195.00 in a report on Monday, November 18th. Canaccord Genuity Group increased their price objective on Royal Bank of Canada from C$172.00 to C$188.00 in a report on Tuesday, November 19th. Scotiabank increased their target price on Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. Jefferies Financial Group decreased their target price on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Cormark increased their target price on Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$176.58.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$178.27 on Thursday. Royal Bank of Canada has a fifty-two week low of C$123.44 and a fifty-two week high of C$180.45. The stock’s 50-day moving average is C$171.64 and its two-hundred day moving average is C$158.94. The firm has a market cap of C$251.36 billion, a P/E ratio of 15.79, a PEG ratio of 3.42 and a beta of 0.84.

Insider Buying and Selling

In related news, Senior Officer Douglas Antony Guzman sold 17,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,198.75. This trade represents a 99.85 % decrease in their position. Insiders sold 44,918 shares of company stock worth $7,518,149 in the last 90 days.

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.