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

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective lowered by investment analysts at BMO Capital Markets from C$195.00 to C$193.00 in a research note issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 7.99% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. CIBC raised their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Scotiabank lifted their target price on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Jefferies Financial Group cut their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Canaccord Genuity Group lifted their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$176.58.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up C$2.46 during mid-day trading on Thursday, hitting C$178.72. 1,096,353 shares of the company were exchanged, compared to its average volume of 4,782,034. The business’s 50 day simple moving average is C$171.38 and its two-hundred day simple moving average is C$158.69. The company has a market capitalization of C$252.00 billion, a P/E ratio of 15.83, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12-month low of C$123.44 and a 12-month high of C$179.86.

Insider Buying and Selling

In other news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the transaction, the insider now directly owns 25 shares in the company, valued at C$4,174.03. The trade was a 99.67 % decrease in their position. Insiders have sold a total of 59,918 shares of company stock worth $9,993,149 over the last ninety days.

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.