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Royal Bank of Canada (TSE:RY) Price Target Raised to C$174.00 at CIBC

Royal Bank of Canada logo with Financial Services background

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price target lifted by investment analysts at CIBC from C$168.00 to C$174.00 in a report released on Thursday,BayStreet.CA reports. CIBC's price target would indicate a potential downside of 2.16% from the company's current price.

Several other analysts have also recently commented on the company. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. National Bankshares set a C$179.00 price target on Royal Bank of Canada and gave the company an "outperform" rating in a report on Thursday, May 22nd. Scotiabank raised Royal Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Cormark reduced their price target on Royal Bank of Canada from C$194.00 to C$189.00 in a report on Friday, February 28th. Finally, Jefferies Financial Group reduced their price target on Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$180.33.

Check Out Our Latest Stock Analysis on Royal Bank of Canada

Royal Bank of Canada Trading Up 0.8%

Shares of RY traded up C$1.45 during mid-day trading on Thursday, hitting C$177.84. The company's stock had a trading volume of 988,801 shares, compared to its average volume of 4,813,503. The firm has a 50-day simple moving average of C$164.92 and a 200 day simple moving average of C$169.40. The firm has a market capitalization of C$251.64 billion, a P/E ratio of 15.50, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$140.53 and a 1-year high of C$180.45.

Insiders Place Their Bets

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total transaction of C$53,611.16. Also, Director David Ian Mckay sold 20,304 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of C$160.27, for a total value of C$3,254,042.89. Over the last 90 days, insiders sold 62,330 shares of company stock valued at $10,312,755.

About Royal Bank of Canada

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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