Royal Bank of Canada (TSE:RY) Price Target Raised to C$267.00 at TD

Key Points

• TD raised its price target on Royal Bank of Canada to C$267 (from C$259) and maintained a "buy" rating, implying roughly a 9.67% upside from the prior close.
• Analyst sentiment is broadly positive with a consensus "Moderate Buy" rating and an average target of C$247.62 after multiple firms recently lifted their targets.
• Shares traded at C$243.46 (near a 52‑week high of C$246.72) with a P/E of 16.72; RBC reported quarterly EPS of C$4.08 and revenue of C$17.96 billion, while insiders sold about 29,110 shares (~$7.07M) in the last quarter.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price objective boosted by investment analysts at TD from C$259.00 to C$267.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the financial services provider's stock. TD's target price suggests a potential upside of 9.67% from the company's previous close.

RY has been the topic of a number of other reports. TD Securities dropped their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce upped their price target on Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a "neutral" rating in a research note on Friday, February 13th. Scotiabank upped their price target on Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a "sector outperform" rating in a research note on Monday. Finally, National Bank Financial upped their price target on Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an "outperform" rating in a research note on Friday, February 27th. One 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$247.62.

Royal Bank of Canada Stock Performance

Shares of TSE:RY traded up C$1.09 during midday trading on Tuesday, reaching C$243.46. The company's stock had a trading volume of 1,395,581 shares, compared to its average volume of 3,738,918. The firm has a market capitalization of C$338.54 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 3.42 and a beta of 1.07. The firm has a 50 day moving average price of C$230.93 and a two-hundred day moving average price of C$225.65. Royal Bank of Canada has a fifty-two week low of C$165.36 and a fifty-two week high of C$246.72.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last announced its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The company had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. As a group, research analysts anticipate 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 Katherine Gibson sold 462 shares of the 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 value of C$112,182.84. Following the completion of the sale, the insider directly owned 290 shares of the company's stock, valued at C$70,417.80. This represents a 61.44% decrease in their ownership of the stock. Also, insider Jennifer Kristine Publicover sold 439 shares of the 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 value of C$106,597.98. Following the completion of the sale, the insider directly owned 152 shares of the company's stock, valued at approximately C$36,908.64. This trade represents a 74.28% decrease in their ownership of the stock. Over the last quarter, insiders sold 29,110 shares of company stock valued at $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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