Raymond James Financial Boosts Royal Bank of Canada (TSE:RY) Price Target to C$248.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective boosted by research analysts at Raymond James Financial from C$239.00 to C$248.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price target points to a potential upside of 7.33% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Royal Bank of Canada from C$229.00 to C$242.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets boosted their price objective on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research note on Wednesday, December 17th. Scotiabank upped their price objective on Royal Bank of Canada from C$231.00 to C$242.00 in a report on Friday, January 9th. Desjardins increased their target price on Royal Bank of Canada from C$240.00 to C$247.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, UBS Group upped their price target on Royal Bank of Canada from C$225.00 to C$238.00 in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$237.00.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded up C$0.09 during trading on Tuesday, hitting C$231.07. The company’s stock had a trading volume of 1,000,584 shares, compared to its average volume of 3,800,110. The stock has a market capitalization of C$323.55 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.42 and a beta of 1.28. The stock’s fifty day moving average is C$232.44 and its 200 day moving average is C$212.79. Royal Bank of Canada has a 1-year low of C$151.25 and a 1-year high of C$240.34.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 EPS for the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%.The company had revenue of C$17.21 billion during the quarter. On average, research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the completion of the transaction, the director owned 5,873 shares in the company, valued at approximately C$1,343,448.75. This represents a 93.96% decrease in their position.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.