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

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by stock analysts at Canaccord Genuity Group from C$242.00 to C$255.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 10.37% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price target on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research note on Wednesday, December 17th. National Bank Financial upgraded Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$203.00 to C$231.00 in a report on Monday, November 17th. Natl Bk Canada raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. UBS Group increased their price target on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a research note on Tuesday, November 25th. Finally, Scotiabank boosted their price target on Royal Bank of Canada from C$231.00 to C$242.00 in a research report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and an average price target of C$234.54.

Royal Bank of Canada Stock Down 1.6%

Shares of RY traded down C$3.67 during mid-day trading on Thursday, hitting C$231.04. 987,446 shares of the company’s stock traded hands, compared to its average volume of 3,771,729. The firm has a market capitalization of C$323.50 billion, a P/E ratio of 16.42, a PEG ratio of 3.42 and a beta of 1.28. The business’s 50-day moving average price is C$232.09 and its 200-day moving average price is C$211.46. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$240.34.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share for the quarter. The business had revenue of C$17.21 billion for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. Sell-side analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David Ian Mckay sold 91,288 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the sale, the director directly owned 5,873 shares of the company’s stock, valued at C$1,343,448.75. This trade represents a 93.96% decrease in their ownership of the stock.

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. and other countries.