Jefferies Financial Group Raises Royal Bank of Canada (TSE:RY) Price Target to C$271.00

Key Points

• Jefferies raised Royal Bank of Canada’s price target from C$268 to C$271, though the new target implies 7.15% downside from the previous close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of C$292.86; recent targets range as high as C$324.
• Royal Bank of Canada reported quarterly EPS of C$4.28 and revenue of C$18.54 billion, while insiders have sold roughly C$100.6 million of shares over the past 90 days.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price objective lifted by Jefferies Financial Group from C$268.00 to C$271.00 in a research note issued on Thursday, BayStreet reports. Jefferies Financial Group's price objective indicates a potential downside of 7.15% from the stock's previous close.

RY has been the subject of several other research reports. TD decreased their target price on Royal Bank of Canada from C$307.00 to C$306.00 and set a "buy" rating for the company in a research report on Friday, August 28th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$310.00 to C$318.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Keefe, Bruyette & Woods increased their price objective on Royal Bank of Canada from C$316.00 to C$324.00 in a research note on Monday. National Bank Financial raised their price objective on Royal Bank of Canada from C$318.00 to C$321.00 and gave the stock an "outperform" rating in a research report on Sunday. Finally, Desjardins set a C$320.00 price objective on Royal Bank of Canada and gave the stock a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$292.86.

Royal Bank of Canada Stock Performance

Shares of TSE:RY traded up C$3.99 during mid-day trading on Thursday, hitting C$291.88. The stock had a trading volume of 929,537 shares, compared to its average volume of 3,519,181. The company has a market cap of C$404.09 billion, a PE ratio of 18.40, a P/E/G ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 12-month low of C$199.17 and a 12-month high of C$306.38. The company's 50 day moving average is C$293.31 and its 200-day moving average is C$261.95.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last posted its quarterly earnings data on Thursday, August 27th. The financial services provider reported C$4.28 EPS for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. The firm had revenue of C$18.54 billion during the quarter. On average, equities research analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Activity

In related news, insider Bruce Washington Ross sold 45,670 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$293.11, for a total transaction of C$13,386,333.70. Following the completion of the sale, the insider directly owned 235 shares in the company, valued at approximately C$68,880.85. This trade represents a 99.49% decrease in their ownership of the stock. Also, insider Neil Mclaughlin sold 4,000 shares of Royal Bank of Canada stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$287.72, for a total value of C$1,150,880.00. Insiders have sold a total of 352,767 shares of company stock worth $100,643,023 in the last ninety days.

Royal Bank of Canada Company Profile

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.

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