StockNews.com Downgrades Royal Bank of Canada (NYSE:RY) to Sell

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Wednesday.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets dropped 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 research note on Thursday, December 5th. TD Securities cut Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Barclays upgraded Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and a consensus price target of $156.50.

Royal Bank of Canada Stock Down 0.0 %

NYSE:RY traded down $0.03 during mid-day trading on Wednesday, reaching $120.51. The stock had a trading volume of 735,814 shares, compared to its average volume of 1,066,202. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $170.36 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The stock's 50 day simple moving average is $123.28 and its two-hundred day simple moving average is $118.14.

Institutional Investors Weigh In On Royal Bank of Canada

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Addison Advisors LLC boosted its stake in shares of Royal Bank of Canada by 9.5% during the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider's stock worth $118,000 after acquiring an additional 82 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its position in shares of Royal Bank of Canada by 1.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider's stock valued at $619,000 after purchasing an additional 92 shares during the period. Drive Wealth Management LLC increased its stake in Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider's stock worth $349,000 after purchasing an additional 92 shares in the last quarter. Private Advisor Group LLC raised its holdings in Royal Bank of Canada by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider's stock worth $768,000 after buying an additional 95 shares during the period. Finally, Leisure Capital Management lifted its stake in Royal Bank of Canada by 1.1% during the third quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider's stock valued at $1,168,000 after buying an additional 100 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.