Canaccord Genuity Group Forecasts Strong Price Appreciation for Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by stock analysts at Canaccord Genuity Group from C$188.00 to C$191.00 in a note issued to investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target indicates a potential upside of 6.87% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Scotiabank increased their price objective on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. CIBC increased their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Cormark upped their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Bank of America upped their target price on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Finally, National Bankshares upped their target price on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$176.58.

Royal Bank of Canada Trading Up 1.4 %

RY stock traded up C$2.46 during trading on Thursday, reaching C$178.72. The stock had a trading volume of 1,096,353 shares, compared to its average volume of 4,782,034. The company has a market capitalization of C$252.00 billion, a P/E ratio of 15.83, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$123.44 and a 1-year high of C$179.86. The firm has a fifty day moving average price of C$171.38 and a 200 day moving average price of C$158.69.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of C$165.00, for a total transaction of C$2,475,000.00. Following the completion of the transaction, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,125. This trade represents a 99.83 % decrease in their position. Insiders have sold a total of 59,918 shares of company stock worth $9,993,149 in the last 90 days.

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.