Royal Bank of Canada (NYSE:RY) Stock Rating Upgraded by StockNews.com

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Several other brokerages have also recently weighed in on RY. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets dropped their target price on shares of 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. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $120.72 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $170.66 billion, a PE ratio of 14.62, a PEG ratio of 1.86 and a beta of 0.86. The company’s fifty day moving average is $124.00 and its 200 day moving average is $117.31. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05.

Institutional Investors Weigh In On Royal Bank of Canada

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Royal Bank of Canada by 6.3% during the third quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,980 shares during the last quarter. Legal & General Group Plc grew its position in Royal Bank of Canada by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after purchasing an additional 190,341 shares during the period. Creative Planning lifted its holdings in shares of Royal Bank of Canada by 6.4% during the 3rd quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after buying an additional 12,693 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after acquiring an additional 124,348 shares during the period. Finally, Algert Global LLC purchased a new stake in Royal Bank of Canada during the third quarter valued at $706,000. Institutional investors own 45.31% of the company’s stock.

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.