Cibc World Mkts Upgrades Royal Bank of Canada (TSE:RY) to “Strong-Buy”

Royal Bank of Canada (TSE:RY) (NYSE:RY) was upgraded by stock analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

RY has been the topic of several other reports. CIBC raised Royal Bank of Canada from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from C$167.00 to C$168.00 in a report on Friday. National Bankshares upped their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Cormark reduced their price target on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. Finally, Jefferies Financial Group lowered their price objective on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Buy” and an average target price of C$181.75.

Royal Bank of Canada Stock Performance

RY opened at C$157.82 on Thursday. The stock has a market capitalization of C$223.32 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a fifty-two week low of C$131.57 and a fifty-two week high of C$180.45. The company has a fifty day moving average of C$167.08 and a 200 day moving average of C$170.45.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada 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 firm’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. Over the last three months, insiders have sold 61,836 shares of company stock worth $10,443,690.

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.