Royal Bank of Canada (TSE:RY) PT Set at C$194.00 by Canaccord Genuity Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned a C$194.00 target price by Canaccord Genuity Group in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 10.17% from the company’s current price.

RY has been the topic of a number of other research reports. Scotiabank upgraded Royal Bank of Canada to a “strong-buy” rating in a report on Thursday, May 15th. Cormark reduced their price objective on Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Barclays increased their target price on shares of Royal Bank of Canada from C$180.00 to C$182.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. TD Securities reduced their price target on shares of Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Finally, CIBC boosted their price objective on shares of Royal Bank of Canada from C$182.00 to C$183.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Buy” and an average price target of C$184.54.

Royal Bank of Canada Price Performance

RY stock traded up C$1.42 on Tuesday, hitting C$176.09. 1,216,219 shares of the company were exchanged, compared to its average volume of 4,541,460. The stock has a market capitalization of C$249.17 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$143.90 and a twelve month high of C$180.45. The business’s fifty day moving average is C$170.59 and its two-hundred day moving average is C$169.53.

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 stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total transaction of C$53,611.16. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of C$160.27, for a total value of C$64,266.71. Following the completion of the sale, the insider now owns 152 shares of the company’s stock, valued at C$24,360.45. This trade represents a 72.51% decrease in their ownership of the stock. Insiders sold a total of 62,731 shares of company stock worth $10,663,017 in the last 90 days.

About Royal Bank of Canada

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.