Royal Bank of Canada (NYSE:RY) Stock Rating Upgraded by StockNews.com

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other analysts have also weighed in on the company. BMO Capital Markets reduced their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.8 %

Shares of RY traded up $1.00 during mid-day trading on Friday, reaching $120.72. 665,300 shares of the company’s stock traded hands, compared to its average volume of 1,079,056. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50-day moving average is $124.00 and its two-hundred day moving average is $117.24. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The stock has a market cap of $170.66 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.86 and a beta of 0.86.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Royal Bank of Canada during the second quarter valued at approximately $198,000. Envestnet Portfolio Solutions Inc. grew its stake in Royal Bank of Canada by 12.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,067 shares of the financial services provider’s stock worth $326,000 after buying an additional 338 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Royal Bank of Canada by 293.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock valued at $54,000 after buying an additional 379 shares in the last quarter. AMG National Trust Bank raised its stake in Royal Bank of Canada by 28.8% in the second quarter. AMG National Trust Bank now owns 22,234 shares of the financial services provider’s stock valued at $2,365,000 after buying an additional 4,977 shares during the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of Royal Bank of Canada by 9.0% during the second quarter. Raymond James Trust N.A. now owns 8,310 shares of the financial services provider’s stock worth $884,000 after acquiring an additional 687 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

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.