Scotiabank Lowers Royal Bank of Canada (TSE:RY) Price Target to C$191.00

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

Several other equities research analysts have also recently weighed in on RY. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. National Bankshares lifted their price target on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. UBS Group cut their price objective on shares of Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. Finally, CIBC lowered their target price on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a report on Tuesday. 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 data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and an average price target of C$180.50.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at C$169.22 on Thursday. 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 stock’s 50 day simple moving average is C$172.93 and its two-hundred day simple moving average is C$168.95. The stock has a market cap of C$239.45 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 3.42 and a beta of 0.84.

Insiders Place Their Bets

In related news, Director David Ian Mckay sold 20,304 shares of the 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$3,555,721.76. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25. In the last quarter, 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.