Royal Bank of Canada (NYSE:RY) (TSE:RY) was downgraded by stock analysts at Desjardins from a “buy” rating to a “hold” rating in a report released on Wednesday, The Fly reports.
A number of other brokerages also recently commented on RY. Scotiabank restated a “buy” rating on shares of Royal Bank of Canada in a report on Tuesday, August 20th. Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating and increased their target price for the stock from $109.00 to $120.00 in a research report on Thursday, November 21st. ValuEngine cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Finally, Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research note on Wednesday, August 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Royal Bank of Canada has a consensus rating of “Hold” and an average price target of $108.50.
Shares of NYSE RY traded down $1.39 during mid-day trading on Wednesday, reaching $79.31. 1,020,065 shares of the company were exchanged, compared to its average volume of 702,910. Royal Bank of Canada has a 52 week low of $65.76 and a 52 week high of $82.58. The company’s 50 day moving average price is $81.64 and its 200 day moving average price is $78.99. The stock has a market capitalization of $116.96 billion, a PE ratio of 12.14, a PEG ratio of 2.07 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.
Several large investors have recently added to or reduced their stakes in RY. Capital Advisors Ltd. LLC purchased a new stake in Royal Bank of Canada during the 2nd quarter valued at $32,000. Aperio Group LLC boosted its stake in Royal Bank of Canada by 6.7% in the 2nd quarter. Aperio Group LLC now owns 864,147 shares of the financial services provider’s stock worth $68,613,000 after buying an additional 54,326 shares during the last quarter. Nwam LLC grew its stake in shares of Royal Bank of Canada by 3.0% during the 3rd quarter. Nwam LLC now owns 5,221 shares of the financial services provider’s stock valued at $424,000 after buying an additional 150 shares during the period. Acadian Asset Management LLC grew its position in Royal Bank of Canada by 1.5% during the second quarter. Acadian Asset Management LLC now owns 8,356,061 shares of the financial services provider’s stock valued at $665,483,000 after acquiring an additional 125,057 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Royal Bank of Canada by 18.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,808 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 593 shares during the period. 42.02% of the stock is currently owned by hedge funds and other institutional investors.
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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