Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY was upgraded by stock analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday, April 3rd,Zacks.com reports.
Other analysts have also issued reports about the stock. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an "outperform" rating on the stock in a report on Thursday, December 5th. CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a report on Friday, April 4th. Finally, StockNews.com upgraded shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $156.50.
Get Our Latest Research Report on RY
Royal Bank of Canada Trading Down 2.8 %
RY stock traded down $3.14 during midday trading on Thursday, hitting $110.59. 672,604 shares of the company's stock were exchanged, compared to its average volume of 1,090,507. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $156.12 billion, a PE ratio of 13.39, a P/E/G ratio of 1.80 and a beta of 0.82. The business has a 50-day simple moving average of $115.41 and a two-hundred day simple moving average of $120.30.
Hedge Funds Weigh In On Royal Bank of Canada
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada in the third quarter valued at $25,000. Park Square Financial Group LLC purchased a new stake in Royal Bank of Canada during the 4th quarter worth about $25,000. Roxbury Financial LLC acquired a new stake in Royal Bank of Canada in the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter valued at about $28,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 45.31% of the company's stock.
Royal Bank of Canada Company Profile
(
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Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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