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

Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other analysts have also commented on the company. Credit Suisse Group dropped their price target on Royal Bank of Canada from C$153.00 to C$152.00 in a research note on Friday, May 27th. Scotiabank lowered their price objective on Royal Bank of Canada from C$150.00 to C$147.00 in a research report on Friday, May 20th. Stifel Nicolaus lowered their price objective on Royal Bank of Canada from C$152.00 to C$150.00 in a research report on Friday, April 8th. Argus raised their price objective on Royal Bank of Canada from $121.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 6th. Finally, BMO Capital Markets lowered their price objective on Royal Bank of Canada from C$142.00 to C$140.00 in a research report on Friday, May 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.84.

RY stock traded down $1.77 on Thursday, reaching $94.97. The company’s stock had a trading volume of 902,368 shares, compared to its average volume of 1,243,259. The business has a fifty day simple moving average of $101.45 and a two-hundred day simple moving average of $107.00. Royal Bank of Canada has a 12-month low of $94.23 and a 12-month high of $119.41. The firm has a market cap of $133.29 billion, a PE ratio of 10.39, a PEG ratio of 2.15 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. lifted its holdings in Royal Bank of Canada by 9.7% in the 4th quarter. Contravisory Investment Management Inc. now owns 991 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 88 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Royal Bank of Canada by 5.0% during the 1st quarter. AdvisorNet Financial Inc now owns 1,974 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 94 shares in the last quarter. Total Clarity Wealth Management Inc. raised its holdings in shares of Royal Bank of Canada by 2.1% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,780 shares of the financial services provider’s stock worth $507,000 after acquiring an additional 100 shares in the last quarter. Tilia Fiduciary Partners Inc. raised its holdings in shares of Royal Bank of Canada by 10.1% during the 1st quarter. Tilia Fiduciary Partners Inc. now owns 1,089 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 100 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Royal Bank of Canada by 15.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 751 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 103 shares in the last quarter. 41.50% of the stock is currently owned by institutional investors.

Royal Bank of Canada Company Profile (Get Rating)

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.

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