Royal Bank of Canada (NYSE:RY) Rating Increased to Hold at StockNews.com

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research firms also recently weighed in on RY. BMO Capital Markets lowered their price target on shares of Royal Bank of Canada from C$142.00 to C$140.00 in a research note on Friday, May 27th. Argus boosted their price target on shares of Royal Bank of Canada from $121.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 6th. Credit Suisse Group reduced their price target on shares of Royal Bank of Canada from C$144.00 to C$143.00 in a research report on Thursday, August 25th. Scotiabank reduced their price target on shares of Royal Bank of Canada from C$147.00 to C$144.00 in a research report on Thursday, August 18th. Finally, Canaccord Genuity Group reduced their price target on shares of Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating on the stock in a research report on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $139.81.

Royal Bank of Canada Stock Performance

NYSE RY opened at $95.31 on Thursday. Royal Bank of Canada has a 52-week low of $90.75 and a 52-week high of $119.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $132.75 billion, a P/E ratio of 10.99, a P/E/G ratio of 2.50 and a beta of 0.87. The company has a fifty day moving average of $96.55 and a 200-day moving average of $101.46.

Hedge Funds Weigh In On Royal Bank of Canada

Several institutional investors have recently bought and sold shares of RY. AdvisorNet Financial Inc increased its position in Royal Bank of Canada by 5.0% during the 1st quarter. AdvisorNet Financial Inc now owns 1,974 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 94 shares during the period. Tilia Fiduciary Partners Inc. increased its position in Royal Bank of Canada by 10.1% during the 1st quarter. Tilia Fiduciary Partners Inc. now owns 1,089 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 100 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Royal Bank of Canada by 56.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 290 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Vident Investment Advisory LLC increased its position in Royal Bank of Canada by 1.1% during the 1st quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock valued at $1,095,000 after purchasing an additional 105 shares during the period. Finally, Leisure Capital Management increased its position in Royal Bank of Canada by 1.0% during the 1st quarter. Leisure Capital Management now owns 10,790 shares of the financial services provider’s stock valued at $1,190,000 after purchasing an additional 107 shares during the period. Institutional investors own 40.46% of the company’s stock.

Royal Bank of Canada Company Profile

(Get Rating)

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.

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Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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