Royal Bank of Canada (TSE:RY) Stock Rating Upgraded by CIBC

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY was upgraded by equities research analysts at CIBC from a "neutral" rating to an "outperform" rating in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a C$168.00 price target on the financial services provider's stock, up from their previous price target of C$167.00. CIBC's price objective would indicate a potential upside of 4.74% from the company's previous close.

Several other equities research analysts also recently commented on RY. TD Securities reduced their price target on shares of Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating for the company in a research report on Friday, February 28th. UBS Group increased their price objective on Royal Bank of Canada from C$192.00 to C$198.00 in a research note on Friday, March 7th. National Bankshares lifted their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. Canaccord Genuity Group increased their price target on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Finally, BMO Capital Markets lowered their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$181.00.

Royal Bank of Canada Trading Up 3.8 %

RY stock traded up C$5.90 during mid-day trading on Friday, reaching C$160.39. 5,027,751 shares of the stock traded hands, compared to its average volume of 4,387,722. Royal Bank of Canada has a 52-week low of C$131.57 and a 52-week high of C$180.45. The stock's fifty day moving average is C$165.79 and its 200-day moving average is C$170.19. The company has a market cap of C$226.95 billion, a P/E ratio of 13.98, a P/E/G ratio of 3.42 and a beta of 0.84.

Insider Buying and Selling

In related news, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction on Friday, March 21st. The shares were sold at an average price of C$161.89, for a total value of C$3,287,014.56. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25. Over the last three months, insiders sold 61,836 shares of company stock worth $10,443,690.

About Royal Bank of Canada

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.