CIBC Lowers Royal Bank of Canada (TSE:RY) Price Target to C$167.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective dropped by investment analysts at CIBC from C$175.00 to C$167.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 1.38% from the stock’s current price.

RY has been the subject of a number of other reports. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Scotiabank decreased their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Jefferies Financial Group cut their price target on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. Canaccord Genuity Group boosted their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Finally, National Bankshares raised their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$181.17.

Royal Bank of Canada Trading Up 1.0 %

Shares of TSE RY traded up C$1.71 during midday trading on Wednesday, hitting C$164.73. 1,119,280 shares of the company’s stock were exchanged, compared to its average volume of 4,457,262. Royal Bank of Canada has a 12-month low of C$131.57 and a 12-month high of C$180.45. The company has a market cap of C$233.09 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 3.42 and a beta of 0.84. The business’s fifty day moving average price is C$172.15 and its two-hundred day moving average price is C$169.94.

Insiders Place Their Bets

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total transaction of C$52,257.10. 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 transaction of C$272,363.80. Following the transaction, the insider now owns 25 shares in the company, valued at approximately C$4,427.24. The trade was a 98.40 % decrease in their ownership of the stock. Insiders sold 42,762 shares of company stock valued at $7,379,177 over the last three months.

Royal Bank of Canada Company Profile

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.