Royal Bank of Canada (TSE:RY) Given New C$260.00 Price Target at Barclays

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price hoisted by equities researchers at Barclays from C$245.00 to C$260.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 0.23% from the stock’s current price.

Several other analysts have also recently weighed in on RY. Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Scotiabank lifted their price objective on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 4th. Raymond James Financial lowered shares of Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$248.00 to C$265.50 in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce raised their target price on shares of Royal Bank of Canada from C$242.00 to C$258.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, TD Securities decreased their target price on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus price target of C$258.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded down C$1.14 during midday trading on Friday, hitting C$259.40. The company’s stock had a trading volume of 1,116,860 shares, compared to its average volume of 3,728,900. Royal Bank of Canada has a 1-year low of C$171.29 and a 1-year high of C$265.10. The company has a 50-day moving average price of C$240.41 and a two-hundred day moving average price of C$231.76. The company has a market cap of C$360.70 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The business had revenue of C$17.45 billion during the quarter. Sell-side analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Activity at Royal Bank of Canada

In related news, insider Graeme Ashley Hepworth sold 1,463 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total transaction of C$383,057.29. Also, insider Jennifer Kristine Publicover sold 439 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total transaction of C$114,943.37. Following the sale, the insider directly owned 152 shares in the company, valued at C$39,798.16. This trade represents a 74.28% decrease in their ownership of the stock. Insiders sold a total of 58,220 shares of company stock worth $14,690,362 in the last ninety days.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.