Cibc World Mkts Upgrades Royal Bank of Canada (TSE:RY) to Strong-Buy

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY was upgraded by investment analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday, April 3rd,Zacks.com reports.

Other research analysts have also issued reports about the stock. Jefferies Financial Group dropped their price objective on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday, February 18th. National Bankshares upped their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. Scotiabank decreased their price objective on Royal Bank of Canada from C$197.00 to C$191.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. UBS Group boosted their target price on Royal Bank of Canada from C$192.00 to C$198.00 in a report on Friday, March 7th. Finally, BMO Capital Markets decreased their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of "Buy" and an average price target of C$181.00.

Royal Bank of Canada Price Performance

Shares of RY traded down C$6.40 during mid-day trading on Thursday, reaching C$153.99. 1,805,067 shares of the company's stock were exchanged, compared to its average volume of 4,348,771. The business's fifty day simple moving average is C$165.09 and its 200-day simple moving average is C$170.09. The stock has a market capitalization of C$217.90 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$131.57 and a 52-week high of C$180.45.

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$53,938.25. Insiders sold 61,836 shares of company stock worth $10,443,690 over the last 90 days.

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.