Royal Bank of Canada (TSE:RY) Price Target Raised to C$300.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective hoisted by equities research analysts at Barclays from C$260.00 to C$300.00 in a research note issued to investors on Friday,BayStreet.CA reports. Barclays‘s price objective would indicate a potential upside of 5.72% from the stock’s previous close.

A number of other equities analysts also recently commented on RY. Desjardins upped their target price on Royal Bank of Canada from C$275.00 to C$320.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their target price on shares of Royal Bank of Canada from C$282.00 to C$310.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods set a C$316.00 target price on shares of Royal Bank of Canada and gave the company a “market perform” rating in a research note on Friday. Canadian Imperial Bank of Commerce increased their price target on shares of Royal Bank of Canada from C$279.00 to C$311.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Raymond James Financial raised their price objective on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a “market perform” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of C$286.07.

Royal Bank of Canada Stock Up 0.2%

Shares of Royal Bank of Canada stock traded up C$0.44 during trading on Friday, reaching C$283.77. 729,093 shares of the stock were exchanged, compared to its average volume of 3,547,427. The firm has a market cap of C$394.34 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 1 year low of C$188.54 and a 1 year high of C$306.38. The stock’s fifty day moving average is C$293.17 and its 200 day moving average is C$258.69.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The business had revenue of C$17.45 billion during the quarter. Equities analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Ian Mckay sold 23,089 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total value of C$6,861,819.91. Following the sale, the director owned 5,873 shares in the company, valued at C$1,745,396.87. This represents a 79.72% decrease in their position. Also, insider Neil Mclaughlin sold 4,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$287.72, for a total value of C$1,150,880.00. In the last quarter, insiders have sold 324,096 shares of company stock valued at $92,616,003.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.