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 report issued on Friday.

Other equities analysts have also issued reports about the stock. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets lowered their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Up 2.6 %

RY stock opened at $118.17 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05. The company’s 50 day moving average is $120.14 and its two-hundred day moving average is $121.54. The stock has a market cap of $167.13 billion, a P/E ratio of 14.31, a PEG ratio of 1.80 and a beta of 0.87.

Hedge Funds Weigh In On Royal Bank of Canada

A number of hedge funds and other institutional investors have recently bought and sold shares of RY. Private Advisor Group LLC boosted its position in shares of Royal Bank of Canada by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 95 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Royal Bank of Canada by 5.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 30,849 shares of the financial services provider’s stock worth $3,848,000 after buying an additional 1,663 shares during the last quarter. Strategic Blueprint LLC acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth $501,000. SteelPeak Wealth LLC acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth $222,000. Finally, US Bancorp DE raised its stake in shares of Royal Bank of Canada by 0.3% during the 3rd quarter. US Bancorp DE now owns 86,594 shares of the financial services provider’s stock worth $10,801,000 after buying an additional 250 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

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.