Royal Bank of Canada (NYSE:RY) Upgraded by Barclays to Overweight Rating

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY was upgraded by Barclays from an "equal weight" rating to an "overweight" rating in a report issued on Thursday, MarketBeat.com reports.

Several other research firms have also issued reports on RY. BMO Capital Markets increased their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. TD Securities downgraded shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.50.

Royal Bank of Canada Trading Up 2.7 %

Shares of RY traded up $3.30 on Thursday, hitting $125.09. 747,972 shares of the stock traded hands, compared to its average volume of 1,098,152. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $176.84 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.88 and a beta of 0.86. The stock's 50 day moving average is $123.34 and its two-hundred day moving average is $114.32. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, sell-side analysts predict that Royal Bank of Canada will post 8.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RY. Shell Asset Management Co. increased its stake in shares of Royal Bank of Canada by 3.8% in the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider's stock valued at $274,000 after acquiring an additional 100 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Royal Bank of Canada by 15.0% during the 1st quarter. EP Wealth Advisors LLC now owns 3,052 shares of the financial services provider's stock worth $308,000 after acquiring an additional 397 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Royal Bank of Canada by 29.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,953 shares of the financial services provider's stock worth $298,000 after acquiring an additional 664 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Royal Bank of Canada by 1.1% during the 1st quarter. Capital Research Global Investors now owns 345,156 shares of the financial services provider's stock worth $34,812,000 after acquiring an additional 3,639 shares in the last quarter. Finally, Tremblant Capital Group grew its stake in shares of Royal Bank of Canada by 71.8% during the 1st quarter. Tremblant Capital Group now owns 13,429 shares of the financial services provider's stock worth $1,355,000 after acquiring an additional 5,612 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank of Canada Company Profile

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.