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

Royal Bank of Canada (NYSE:RY) (TSE:RY) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other equities research analysts have also issued reports on the company. BMO Capital Markets dropped their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

NYSE:RY opened at $119.68 on Wednesday. The business’s fifty day moving average is $123.28 and its 200 day moving average is $118.14. The firm has a market cap of $169.19 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Royal Bank of Canada by 6.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,980 shares during the period. Legal & General Group Plc increased its holdings in Royal Bank of Canada by 1.8% during the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock valued at $1,118,150,000 after buying an additional 190,341 shares during the last quarter. Creative Planning raised its position in Royal Bank of Canada by 6.4% in the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock worth $26,369,000 after acquiring an additional 12,693 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after acquiring an additional 124,348 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $706,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Company Profile

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.