BMO Capital Markets Lowers Royal Bank of Canada (TSE:RY) Price Target to C$193.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lowered by analysts at BMO Capital Markets from C$195.00 to C$193.00 in a research report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 8.26% from the company’s current price.

RY has been the subject of several other reports. National Bankshares upped their price target on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday. Jefferies Financial Group cut 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 research report on Monday, August 12th. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. CIBC upped their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Finally, Scotiabank upped their price objective on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$176.58.

Royal Bank of Canada Stock Down 0.7 %

TSE RY opened at C$178.27 on Thursday. The company has a 50-day simple moving average of C$171.64 and a two-hundred day simple moving average of C$158.94. Royal Bank of Canada has a 12-month low of C$123.44 and a 12-month high of C$180.45. The firm has a market cap of C$251.36 billion, a price-to-earnings 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 7,500 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the completion of the transaction, the insider now directly owns 25 shares of the company’s stock, valued at C$4,174.03. This represents a 99.67 % decrease in their ownership of the stock. Insiders sold a total of 44,918 shares of company stock valued at $7,518,149 over the last three months.

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.