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 lowered by analysts at Scotiabank from C$197.00 to C$191.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price objective points to a potential upside of 12.69% from the company’s current price.

RY has been the topic of a number of other research reports. National Bankshares boosted their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. Jefferies Financial Group reduced their price objective on Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Finally, BMO Capital Markets cut their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$180.50.

Royal Bank of Canada Trading Down 1.2 %

RY stock traded down C$2.03 during trading on Thursday, hitting C$169.49. The company had a trading volume of 786,419 shares, compared to its average volume of 4,586,455. The company has a fifty day moving average price of C$173.28 and a two-hundred day moving average price of C$168.72. The company has a market cap of C$239.83 billion, a P/E ratio of 14.77, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a fifty-two week low of C$130.44 and a fifty-two week high of C$180.45.

Insiders Place Their Bets

In related news, Director David Ian Mckay sold 20,304 shares of the 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$3,555,721.76. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,427.24. The trade was a 98.40 % decrease in their ownership of the stock. Insiders sold 22,150 shares of company stock worth $3,882,024 over the last ninety 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.