Royal Bank of Canada (TSE:RY) Given New C$260.00 Price Target at Barclays

by · The Cerbat Gem

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) had its price target hoisted by equities researchers at Barclays from C$245.00 to C$260.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 0.23% from the company’s current price.

A number of other research firms also recently weighed in on RY. National Bank Financial raised their target price on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Raymond James Financial cut shares of Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and increased their price target for the company from C$248.00 to C$265.50 in a research note on Tuesday, May 12th. 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, May 4th. Canaccord Genuity Group increased their price target on shares of Royal Bank of Canada from C$260.00 to C$270.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Desjardins increased their price target on shares of Royal Bank of Canada from C$250.00 to C$262.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of C$258.50.

Read Our Latest Stock Analysis on RY

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded down C$1.14 during mid-day trading on Friday, reaching C$259.40. The company’s stock had a trading volume of 1,116,860 shares, compared to its average volume of 3,728,900. The company has a market capitalization of C$360.70 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 12 month low of C$171.29 and a 12 month high of C$265.10. The business’s 50 day simple moving average is C$240.41 and its 200 day simple moving average is C$231.76.

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. The business had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. As a group, sell-side analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 23,089 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total transaction of C$6,045,392.87. Following the completion of the sale, the director owned 5,873 shares in the company, valued at approximately C$1,537,727.59. This trade represents a 79.72% decrease in their position. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total transaction of C$383,057.29. Insiders have sold a total of 58,220 shares of company stock worth $14,690,362 in the last quarter.

About Royal Bank of Canada

(Get Free Report)

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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