Jefferies Financial Group Downgrades Royal Bank of Canada (TSE:RY) to Hold

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$215.00 target price on the financial services provider’s stock, up from their prior target price of C$213.00. Jefferies Financial Group’s price objective indicates a potential upside of 0.50% from the stock’s previous close.

RY has been the topic of a number of other reports. Barclays boosted their price target on Royal Bank of Canada from C$203.00 to C$221.00 and gave the company an “overweight” rating in a report on Monday. TD Securities raised their price objective on shares of Royal Bank of Canada from C$208.00 to C$215.00 in a research report on Monday, November 10th. Desjardins increased their target price on shares of Royal Bank of Canada from C$193.00 to C$214.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Scotiabank raised their target price on shares of Royal Bank of Canada from C$210.00 to C$218.00 in a report on Friday, October 10th. Finally, BMO Capital Markets lifted their target price on Royal Bank of Canada from C$190.00 to C$203.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$216.43.

Royal Bank of Canada Price Performance

Shares of RY stock traded up C$2.55 on Tuesday, reaching C$213.94. 1,159,271 shares of the stock were exchanged, compared to its average volume of 4,123,635. Royal Bank of Canada has a one year low of C$151.25 and a one year high of C$214.06. The stock has a 50 day moving average price of C$205.31 and a 200 day moving average price of C$190.31. The stock has a market cap of C$301.72 billion, a PE ratio of 16.18, a P/E/G ratio of 3.42 and a beta of 1.28.

Royal Bank of Canada Company Profile

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.