Jefferies Financial Group Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price boosted by Jefferies Financial Group from C$226.00 to C$232.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s price objective suggests a potential downside of 9.81% from the company’s previous close.

Several other analysts have also recently commented on the company. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$260.00 to C$270.00 and gave the stock a “buy” rating in a report on Wednesday. National Bank Financial raised their price target on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Canadian Imperial Bank of Commerce raised their price target on Royal Bank of Canada from C$242.00 to C$258.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Raymond James Financial cut Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and raised their price target for the company from C$248.00 to C$265.50 in a report on Tuesday, May 12th. Finally, TD raised their price target on Royal Bank of Canada from C$259.00 to C$267.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average target price of C$253.19.

Royal Bank of Canada Price Performance

Shares of RY stock traded up C$4.70 during trading hours on Wednesday, hitting C$257.23. 1,264,759 shares of the company’s stock were exchanged, compared to its average volume of 3,753,792. The stock’s 50-day moving average is C$235.11 and its 200-day moving average is C$229.00. The stock has a market cap of C$357.68 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 52 week low of C$171.29 and a 52 week high of C$257.39.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. The company had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. Equities research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Activity at Royal Bank of Canada

In other news, insider Bruce Washington Ross sold 3,657 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$887,992.74. Following the sale, the insider owned 235 shares of the company’s stock, valued at C$57,062.70. This trade represents a 93.96% decrease in their ownership of the stock. Also, insider Jennifer Kristine Publicover sold 439 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total value of C$106,597.98. Following the sale, the insider directly owned 152 shares in the company, valued at approximately C$36,908.64. This represents a 74.28% decrease in their position. Insiders have sold a total of 29,110 shares of company stock valued at $7,068,490 over the last 90 days.

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.