Desjardins Raises Royal Bank of Canada (TSE:RY) Price Target to C$262.00

Key Points

• Desjardins raised its price target on Royal Bank of Canada from C$250 to C$262 and kept a "buy" rating, implying roughly a 7.62% upside from the prior close.
• Multiple peers also lifted targets (TD to C$267, Scotiabank to C$252), leaving a consensus of Moderate Buy with an average price target of C$247.62.
• Insiders have sold 29,110 shares in the past 90 days worth about $7.07 million, including sizable April transactions.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its target price increased by analysts at Desjardins from C$250.00 to C$262.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the financial services provider's stock. Desjardins' target price would suggest a potential upside of 7.62% from the company's previous close.

Several other analysts have also recently weighed in on RY. TD increased their price target on shares of Royal Bank of Canada from C$259.00 to C$267.00 and gave the company a "buy" rating in a research note on Tuesday. Scotiabank increased their price target on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a "sector outperform" rating in a research note on Monday. Barclays increased their price target on shares of Royal Bank of Canada from C$244.00 to C$245.00 in a research note on Friday, February 27th. Jefferies Financial Group increased their price target on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a research note on Wednesday, February 11th. Finally, National Bank Financial upped their price objective on shares of Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$247.62.

Royal Bank of Canada Stock Up 0.4%

Shares of Royal Bank of Canada stock traded up C$1.09 during mid-day trading on Tuesday, hitting C$243.46. The stock had a trading volume of 1,395,581 shares, compared to its average volume of 3,738,918. The firm has a 50-day moving average of C$230.93 and a two-hundred day moving average of C$225.65. Royal Bank of Canada has a 12-month low of C$165.36 and a 12-month high of C$246.72. The firm has a market cap of C$338.54 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The business had revenue of C$17.96 billion during the quarter. Sell-side analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insider Transactions at Royal Bank of Canada

In other news, insider Bruce Washington Ross sold 3,657 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$887,992.74. Following the transaction, the insider directly owned 235 shares in the company, valued at approximately C$57,062.70. This represents a 93.96% decrease in their position. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$355,245.66. In the last 90 days, insiders sold 29,110 shares of company stock worth $7,068,490.

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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