Canaccord Genuity Group Reiterates "C$194.00" Price Target for Royal Bank of Canada (TSE:RY)

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY has been given a C$194.00 price target by equities research analysts at Canaccord Genuity Group in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the financial services provider's stock. Canaccord Genuity Group's price objective indicates a potential upside of 9.24% from the company's current price.

Several other brokerages have also issued reports on RY. Barclays boosted their price target on shares of Royal Bank of Canada from C$180.00 to C$182.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. CIBC raised their price target on Royal Bank of Canada from C$182.00 to C$183.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. UBS Group cut their price objective on Royal Bank of Canada from C$198.00 to C$196.00 in a report on Thursday, May 22nd. Finally, TD Securities lowered their target price on Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$184.54.

Royal Bank of Canada Stock Down 0.0%

Shares of Royal Bank of Canada stock traded down C$0.02 during trading on Tuesday, reaching C$177.59. 1,334,869 shares of the company were exchanged, compared to its average volume of 4,506,857. The business has a 50-day moving average price of C$171.54 and a 200-day moving average price of C$169.61. The firm has a market capitalization of C$251.29 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$145.00 and a twelve month high of C$180.45.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction dated Friday, June 20th. The shares were sold at an average price of C$175.47, for a total value of C$54,044.58. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of C$160.27, for a total transaction of C$64,266.71. Following the transaction, the insider now owns 152 shares in the company, valued at C$24,360.45. This represents a 72.51% decrease in their ownership of the stock. Insiders sold a total of 62,731 shares of company stock worth $10,663,017 in the last three months.

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.