Royal Bank of Canada (TSE:RY) Price Target Lowered to C$191.00 at Scotiabank

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price dropped by Scotiabank from C$197.00 to C$191.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target would indicate a potential upside of 12.69% from the company’s previous close.

RY has been the subject of a number of other research reports. CIBC lowered their price target on Royal Bank of Canada from C$176.00 to C$175.00 in a report on Tuesday. UBS Group lowered their price target on Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$180.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded down C$2.03 during mid-day trading on Thursday, reaching C$169.49. 786,419 shares of the company were exchanged, compared to its average volume of 4,586,455. The company has a fifty day simple moving average of C$173.28 and a 200-day simple moving average of C$168.72. Royal Bank of Canada has a 12 month low of C$130.44 and a 12 month high of C$180.45. The firm has a market cap of C$239.83 billion, a PE ratio of 14.77, a PEG ratio of 3.42 and a beta of 0.84.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the sale, the insider now owns 25 shares in the company, valued at C$4,427.24. This represents a 98.40 % decrease in their position. Also, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were 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 22,150 shares of company stock worth $3,882,024 in the last 90 days.

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.