Barclays Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Key Points

• Barclays raised Royal Bank of Canada’s price target from C$260 to C$300, implying 5.72% upside from the reported trading price.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of C$286.07; other firms set targets ranging from C$280 to C$316.
• Royal Bank of Canada reported C$3.90 in quarterly EPS and C$17.45 billion in revenue, while insiders sold approximately C$92.6 million worth of shares over the prior 90 days.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price objective hoisted by Barclays from C$260.00 to C$300.00 in a report issued on Friday,BayStreet.CA reports. Barclays's price objective points to a potential upside of 5.72% from the stock's current price.

Several other research analysts have also recently weighed in on the stock. Scotiabank upped their price target on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a "sector outperform" rating in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce boosted their target price on Royal Bank of Canada from C$279.00 to C$311.00 and gave the stock a "neutral" rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$282.00 to C$310.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. TD raised their price target on Royal Bank of Canada from C$272.00 to C$307.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods set a C$316.00 price target on Royal Bank of Canada and gave the company a "market perform" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of "Moderate Buy" and a consensus price target of C$286.07.

Royal Bank of Canada Stock Performance

TSE RY traded up C$0.44 during trading hours on Friday, hitting C$283.77. The company had a trading volume of 729,093 shares, compared to its average volume of 3,547,427. Royal Bank of Canada has a 52 week low of C$188.54 and a 52 week high of C$306.38. The firm has a 50 day simple moving average of C$293.17 and a 200 day simple moving average of C$258.69. The firm has a market capitalization of C$394.34 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 3.42 and a beta of 1.05.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The firm had revenue of C$17.45 billion for the quarter. On average, research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insider Buying and Selling at Royal Bank of Canada

In other news, insider Bruce Washington Ross sold 45,670 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the completion of the sale, the insider owned 235 shares of the company's stock, valued at approximately C$68,880.85. This represents a 99.49% decrease in their position. Also, Director David Ian Mckay sold 133,130 shares of Royal Bank of Canada stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of C$287.21, for a total transaction of C$38,236,267.30. Following the completion of the transaction, the director owned 5,873 shares in the company, valued at approximately C$1,686,784.33. The trade was a 95.77% decrease in their position. Insiders have sold 324,096 shares of company stock worth $92,616,003 over the last ninety 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.

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