Royal Bank of Canada (TSE:RY) Price Target Cut to C$180.00 by Analysts at Jefferies Financial Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target dropped by equities research analysts at Jefferies Financial Group from C$195.00 to C$180.00 in a research note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target would indicate a potential upside of 13.29% from the company’s previous close.

Several other equities analysts have also issued reports on the company. CIBC upgraded Royal Bank of Canada from a “neutral” rating to an “outperform” rating and raised their price target for the stock from C$167.00 to C$168.00 in a research report on Friday, April 4th. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. National Bankshares lowered their target price on shares of Royal Bank of Canada from C$190.00 to C$179.00 and set an “outperform” rating for the company in a report on Monday, April 7th. Cormark cut their price objective on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. Finally, TD Securities reduced their target price on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$180.00.

Royal Bank of Canada Trading Down 1.3 %

Shares of RY traded down C$2.02 during mid-day trading on Monday, reaching C$158.89. 3,332,590 shares of the stock traded hands, compared to its average volume of 4,617,667. The company has a market cap of C$224.83 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The firm has a fifty day moving average price of C$163.51 and a 200 day moving average price of C$169.69. Royal Bank of Canada has a 1 year low of C$131.57 and a 1 year high of C$180.45.

Insider Transactions at Royal Bank of Canada

In related news, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada 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 Graeme Ashley Hepworth sold 308 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$53,938.25. Insiders have sold 61,836 shares of company stock valued at $10,443,690 in the last quarter.

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.