TD Securities Cuts Royal Bank of Canada (TSE:RY) Price Target to C$178.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target cut by investment analysts at TD Securities from C$180.00 to C$178.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Securities’ price objective would indicate a potential upside of 5.38% from the stock’s current price.

Several other equities research analysts have also recently commented on RY. UBS Group dropped their price objective on Royal Bank of Canada from C$200.00 to C$192.00 in a research report on Friday, February 14th. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Jefferies Financial Group dropped their price target on Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday, February 18th. CIBC reduced their price objective on Royal Bank of Canada from C$176.00 to C$175.00 in a research report on Tuesday, February 18th. Finally, National Bankshares raised their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$181.83.

Royal Bank of Canada Trading Up 1.4 %

Royal Bank of Canada stock traded up C$2.39 during mid-day trading on Friday, hitting C$168.91. The company had a trading volume of 1,002,040 shares, compared to its average volume of 4,491,055. The company has a market capitalization of C$239.01 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The stock’s 50 day moving average price is C$172.49 and its two-hundred day moving average price is C$169.54. Royal Bank of Canada has a 12 month low of C$130.44 and a 12 month high of C$180.45.

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$169.67, for a total transaction of C$52,257.10. Insiders have sold 42,762 shares of company stock valued at $7,379,177 in the last quarter.

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.