Barclays Raises Royal Bank of Canada (TSE:RY) Price Target to C$182.00

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price objective increased by equities research analysts at Barclays from C$180.00 to C$182.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Barclays's target price indicates a potential upside of 3.84% from the company's current price.

A number of other brokerages have also commented on RY. National Bankshares set a C$179.00 price target on Royal Bank of Canada and gave the company an "outperform" rating in a research note on Thursday, May 22nd. TD Securities cut their price target on Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Scotiabank raised Royal Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. CIBC lifted their price target on Royal Bank of Canada from C$182.00 to C$183.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Finally, Cormark cut their price target on Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$183.75.

Royal Bank of Canada Price Performance

TSE:RY traded up C$0.55 during trading hours on Monday, hitting C$175.27. The company's stock had a trading volume of 1,904,150 shares, compared to its average volume of 4,683,791. The stock has a fifty day simple moving average of C$167.75 and a 200-day simple moving average of C$169.64. The company has a market capitalization of C$248.01 billion, a P/E ratio of 15.27, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$140.53 and a twelve month high of C$180.45.

Insider Activity

In related news, Director David Ian Mckay sold 20,304 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$161.89, for a total transaction of C$3,287,014.56. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$161.89, for a total value of C$49,862.12. Insiders sold a total of 62,330 shares of company stock worth $10,312,755 over the last quarter.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.