Royal Bank Of Canada Issues Pessimistic Forecast for PICS (NASDAQ:PICS) Stock Price

PICS (NASDAQ:PICS) had its price objective reduced by analysts at Royal Bank Of Canada from $19.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 88.48% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. HSBC initiated coverage on shares of PICS in a research report on Thursday, February 19th. They set a “buy” rating and a $21.00 price objective for the company. Zacks Research upgraded shares of PICS to a “hold” rating in a research report on Wednesday, February 25th. Wolfe Research upgraded shares of PICS to a “strong-buy” rating in a research report on Monday, February 23rd. Wells Fargo & Company set a $27.00 price objective on shares of PICS in a research report on Tuesday, February 24th. Finally, Citigroup initiated coverage on shares of PICS in a research report on Monday, February 23rd. They set a “buy” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.17.

PICS Stock Performance

NASDAQ:PICS traded down $1.62 during mid-day trading on Wednesday, hitting $9.55. The stock had a trading volume of 1,051,832 shares, compared to its average volume of 629,473. The stock has a 50 day simple moving average of $11.73. PICS has a twelve month low of $9.05 and a twelve month high of $19.95.

Insider Buying and Selling at PICS

In other PICS news, Director William Rodney Pruett purchased 100,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average cost of $11.80 per share, for a total transaction of $1,180,000.00. Following the completion of the transaction, the director owned 100,000 shares in the company, valued at approximately $1,180,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.