Royal Bank of Canada (TSE:RY) Price Target Raised to C$255.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target boosted by Canaccord Genuity Group from C$242.00 to C$255.00 in a report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Desjardins increased their price target on Royal Bank of Canada from C$240.00 to C$247.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a report on Wednesday. Barclays boosted their target price on shares of Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Raymond James Financial raised their price target on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, Natl Bk Canada upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$235.54.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$230.98 on Thursday. The company has a market cap of C$323.42 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$240.34. The stock’s 50 day simple moving average is C$232.34 and its two-hundred day simple moving average is C$212.18.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 EPS for the quarter. The firm had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%. Equities research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the transaction, the director owned 5,873 shares in the company, valued at approximately C$1,343,448.75. This represents a 93.96% decrease in their position.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.