Royal Bank of Canada (NYSE:RY) Stock Rating Upgraded by CIBC

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by investment analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. BMO Capital Markets decreased their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Down 3.5 %

RY stock opened at $111.13 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $156.88 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a fifty-two week low of $95.84 and a fifty-two week high of $128.05. The business has a 50-day moving average of $116.60 and a 200-day moving average of $120.69.

Institutional Investors Weigh In On Royal Bank of Canada

Several hedge funds have recently bought and sold shares of the company. Dunhill Financial LLC bought a new stake in Royal Bank of Canada in the third quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new stake in Royal Bank of Canada in the 4th quarter valued at $25,000. WealthTrak Capital Management LLC acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $28,000. Roxbury Financial LLC bought a new position in Royal Bank of Canada during the fourth quarter worth $29,000. Finally, Optiver Holding B.V. acquired a new position in shares of Royal Bank of Canada in the fourth quarter valued at $35,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

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.