Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lowered by investment analysts at Eight Capital from C$121.00 to C$114.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Eight Capital’s price objective suggests a potential upside of 15.31% from the stock’s previous close.
Several other brokerages have also issued reports on RY. Citigroup dropped their price objective on Royal Bank of Canada from C$125.00 to C$120.00 in a report on Thursday, June 27th. Desjardins raised their price objective on Royal Bank of Canada from C$108.00 to C$111.00 in a report on Tuesday, May 14th. Canaccord Genuity dropped their price objective on Royal Bank of Canada from C$108.00 to C$105.00 in a report on Wednesday, May 15th. National Bank Financial raised their price objective on Royal Bank of Canada from C$110.00 to C$112.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Finally, BMO Capital Markets raised their price objective on Royal Bank of Canada from C$110.00 to C$114.00 in a report on Friday, May 24th.
Royal Bank of Canada stock traded down C$1.85 during midday trading on Wednesday, reaching C$98.86. The company’s stock had a trading volume of 1,378,582 shares, compared to its average volume of 2,687,979. Royal Bank of Canada has a fifty-two week low of C$90.10 and a fifty-two week high of C$107.91. The stock has a market cap of $142.04 billion and a P/E ratio of 11.44. The stock’s 50-day moving average is C$103.85.
In related news, Director David Ian Mckay sold 8,258 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of C$104.79, for a total transaction of C$865,314.53. Following the transaction, the director now owns 5,873 shares of the company’s stock, valued at C$615,402.31. Also, Senior Officer Alex Douglas Mcgregor sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of C$104.87, for a total value of C$1,048,680.00. Following the transaction, the insider now directly owns 54,675 shares in the company, valued at approximately C$5,733,657.90. In the last ninety days, insiders have sold 45,656 shares of company stock worth $4,783,938.
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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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