Royal Bank of Canada (TSE:RY) Price Target Raised to C$244.00 at Barclays

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by equities research analysts at Barclays from C$227.00 to C$244.00 in a note issued to investors on Thursday,BayStreet.CA reports. Barclays‘s price objective would indicate a potential upside of 4.85% from the company’s previous close.

RY has been the subject of a number of other research reports. Raymond James Financial increased their price objective on Royal Bank of Canada from C$239.00 to C$248.00 and gave the company an “outperform” rating in a research report on Tuesday. Canadian Imperial Bank of Commerce boosted their target price on Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. TD Securities upped their target price on Royal Bank of Canada from C$246.00 to C$260.00 in a report on Monday, February 9th. Scotiabank lifted their price target on Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. Finally, BMO Capital Markets upped their price objective on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of C$238.31.

Royal Bank of Canada Stock Performance

Shares of RY stock traded down C$1.26 during mid-day trading on Thursday, hitting C$232.72. 601,085 shares of the stock traded hands, compared to its average volume of 3,801,916. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$240.34. The company’s 50-day simple moving average is C$232.66 and its 200-day simple moving average is C$213.31. The firm has a market cap of C$325.86 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 EPS for the quarter. The firm had revenue of C$17.21 billion for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. Analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insider Activity

In other news, Director David Ian Mckay sold 91,288 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the completion of the sale, the director owned 5,873 shares in the company, valued at approximately C$1,343,448.75. This represents a 93.96% decrease in their position.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.