Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by analysts at Canaccord Genuity Group from C$188.00 to C$191.00 in a report released on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target would indicate a potential upside of 7.14% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Bank of America upped their target price on Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday, August 29th. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Jefferies Financial Group lowered their price target on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a report on Monday, August 12th. National Bankshares upped their price target on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday. Finally, Scotiabank upped their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$176.58.

Royal Bank of Canada Price Performance

TSE RY opened at C$178.27 on Thursday. The business has a fifty day moving average price of C$171.64 and a two-hundred day moving average price of C$158.94. 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 has a market capitalization of C$251.36 billion, a PE ratio of 15.79, a PEG ratio of 3.42 and a beta of 0.84.

Insiders Place Their Bets

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$167.91, for a total transaction of C$1,679,100.00. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at approximately C$4,197.75. This trade represents a 99.75 % decrease in their position. In the last ninety days, insiders sold 44,918 shares of company stock worth $7,518,149.

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.