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

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

RY has been the topic of a number of other reports. Canaccord Genuity Group raised their target price on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. TD Securities lowered their price objective on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Scotiabank dropped their target price on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Cormark reduced their price target on Royal Bank of Canada from C$194.00 to C$189.00 in a report on Friday, February 28th. Finally, CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$167.00 to C$168.00 in a research report on Friday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 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 Down 2.7 %

Shares of RY opened at C$157.82 on Thursday. The firm’s fifty day moving average is C$167.08 and its two-hundred day moving average is C$170.45. The stock has a market cap of C$223.32 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$131.57 and a 52-week high of C$180.45.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$161.89, for a total value of C$49,862.12. Also, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76. Insiders have sold a total of 61,836 shares of company stock valued at $10,443,690 over the last quarter.

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.