CIBC Lowers Royal Bank of Canada (TSE:RY) Price Target to C$175.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price decreased by analysts at CIBC from C$176.00 to C$175.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 2.19% from the company’s current price.

A number of other equities analysts have also commented on the company. UBS Group dropped their price target on Royal Bank of Canada from C$200.00 to C$192.00 in a research note on Friday. Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price target for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. BMO Capital Markets reduced their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, Jefferies Financial Group reduced their price objective on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Buy” and an average target price of C$181.00.

Royal Bank of Canada Price Performance

Shares of TSE RY traded up C$2.58 during mid-day trading on Tuesday, reaching C$171.25. The company’s stock had a trading volume of 705,220 shares, compared to its average volume of 4,573,451. The firm has a market capitalization of C$242.32 billion, a PE ratio of 14.92, a P/E/G ratio of 3.42 and a beta of 0.84. The stock has a fifty day moving average of C$173.56 and a two-hundred day moving average of C$168.47. Royal Bank of Canada has a 52 week low of C$130.44 and a 52 week high of C$180.45.

Insider Transactions at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the transaction, the insider now owns 25 shares in the company, valued at C$4,427.24. This trade represents a 98.40 % decrease in their position. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76. Insiders sold 22,150 shares of company stock valued at $3,882,024 in the last quarter.

Royal Bank of Canada Company Profile

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.