Cormark Has Lowered Expectations for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target dropped by investment analysts at Cormark from C$194.00 to C$189.00 in a research note issued on Friday,BayStreet.CA reports. Cormark’s target price suggests a potential upside of 11.89% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Canaccord Genuity Group boosted their price objective on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Scotiabank dropped their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. CIBC cut their price objective on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a research note on Tuesday, February 18th. Finally, UBS Group lowered their price objective on shares of Royal Bank of Canada from C$200.00 to C$192.00 in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$181.83.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded up C$2.39 during mid-day trading on Friday, reaching C$168.91. 1,002,040 shares of the company were exchanged, compared to its average volume of 4,491,055. Royal Bank of Canada has a twelve month low of C$130.44 and a twelve month high of C$180.45. The firm’s 50-day simple moving average is C$172.49 and its two-hundred day simple moving average is C$169.54. The firm has a market cap of C$239.01 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of the business’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$3,444,896.43. In the last quarter, insiders have sold 42,762 shares of company stock valued at $7,379,177.

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.