TD Securities Lowers Royal Bank of Canada (TSE:RY) Price Target to C$178.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lowered by analysts at TD Securities from C$180.00 to C$178.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Securities’ target price would indicate a potential upside of 5.38% from the stock’s previous close.

RY has been the subject of several other research reports. Scotiabank cut their target price on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. BMO Capital Markets decreased their target price on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. CIBC decreased their price objective on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a report on Tuesday, February 18th. Jefferies Financial Group cut their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. Finally, Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$181.83.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up C$2.39 during 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. The stock’s 50 day simple moving average is C$172.49 and its two-hundred day simple moving average is C$169.54. The company has a market capitalization of C$239.01 billion, a P/E ratio of 14.72, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$130.44 and a 52-week high of C$180.45.

Insider Activity at Royal Bank of Canada

In related news, Director David Ian Mckay sold 20,304 shares of the business’s stock in a transaction that occurred on 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. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,427.24. This trade represents a 98.40 % decrease in their position. Insiders sold 42,762 shares of company stock valued at $7,379,177 in 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.