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

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its target price boosted by equities researchers at CIBC from C$168.00 to C$174.00 in a report issued on Thursday,BayStreet.CA reports. CIBC's price target would suggest a potential downside of 0.62% from the stock's previous close.

Several other equities research analysts also recently commented on the stock. UBS Group dropped their price objective on shares of Royal Bank of Canada from C$198.00 to C$196.00 in a report on Thursday. Cormark dropped their price target on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Jefferies Financial Group cut their price objective on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. TD Securities lowered their target price on shares of Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating on the stock in a report on Friday, February 28th. Finally, National Bankshares set a C$179.00 target price on Royal Bank of Canada and gave the stock an "outperform" rating in a research report on Thursday. One analyst has rated the stock with a hold rating, five have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$180.33.

Royal Bank of Canada Stock Performance

TSE RY traded up C$0.72 on Thursday, hitting C$175.08. 976,463 shares of the stock traded hands, compared to its average volume of 4,846,482. The business's fifty day moving average is C$164.07 and its two-hundred day moving average is C$169.31. Royal Bank of Canada has a 12 month low of C$140.53 and a 12 month high of C$180.45. The firm has a market capitalization of C$247.74 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 3.42 and a beta of 0.84.

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value of C$3,444,896.43. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total transaction of C$52,257.10. Over the last quarter, insiders sold 61,929 shares of company stock valued at $10,152,340.

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.

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