Royal Bank of Canada (TSE:RY) Price Target Raised to C$207.00

Key Points

• The price target for Royal Bank of Canada was raised by Jefferies Financial Group from C$198.00 to C$207.00, indicating a potential upside of 10.58% from the previous close.
• The stock currently has a consensus rating of "Buy" with an average price target of C$188.92, as assessed by multiple analysts.
• Recent insider trading activity includes significant sales by Senior Officer Jennifer Kristine Publicover and Director David Ian Mckay, totaling over C$11 million in shares sold.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price target upped by equities research analysts at Jefferies Financial Group from C$198.00 to C$207.00 in a research note issued on Wednesday,BayStreet.CA reports. Jefferies Financial Group's price target would suggest a potential upside of 10.58% from the company's previous close.

RY has been the topic of a number of other reports. 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. Scotiabank upgraded Royal Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. UBS Group cut their price target on Royal Bank of Canada from C$198.00 to C$196.00 in a research note on Thursday, May 22nd. Canaccord Genuity Group set a C$194.00 price target on Royal Bank of Canada and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Barclays raised their price target on Royal Bank of Canada from C$180.00 to C$182.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$188.92.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock traded up C$1.46 during trading hours on Wednesday, reaching C$187.19. 944,129 shares of the company were exchanged, compared to its average volume of 4,477,054. Royal Bank of Canada has a 1 year low of C$149.99 and a 1 year high of C$187.29. The stock's fifty day moving average is C$178.63 and its 200 day moving average is C$171.01. The firm has a market cap of C$264.87 billion, a PE ratio of 16.31, a PEG ratio of 3.42 and a beta of 0.84.

Insider Buying and Selling

In related news, Senior Officer Jennifer Kristine Publicover sold 401 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total transaction of C$69,798.94. Following the transaction, the insider owned 152 shares of the company's stock, valued at C$26,457.45. This trade represents a 72.51% decrease in their ownership of the stock. Also, Director David Ian Mckay sold 20,304 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$3,701,453.72. Insiders have sold a total of 63,039 shares of company stock valued at $11,175,413 over the last quarter.

About Royal Bank of Canada

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.

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