Royal Bank of Canada (NYSE:RY) Lowered to “Hold” at Desjardins

Desjardins downgraded shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from a buy rating to a hold rating in a report issued on Wednesday, The Fly reports.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Royal Bank of Canada from a hold rating to a sell rating in a research report on Thursday, November 21st. Barclays reaffirmed a sell rating on shares of Royal Bank of Canada in a research report on Wednesday, August 21st. Scotiabank reiterated a buy rating on shares of Royal Bank of Canada in a research note on Tuesday, August 20th. CIBC upgraded shares of Royal Bank of Canada from a neutral rating to a sector outperform rating and increased their price objective for the company from $109.00 to $120.00 in a research note on Thursday, November 21st. Finally, ValuEngine cut shares of Royal Bank of Canada from a hold rating to a sell rating in a research report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $108.50.

NYSE:RY traded down $0.46 during trading hours on Wednesday, hitting $79.06. 43,316 shares of the company traded hands, compared to its average volume of 907,976. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a market cap of $113.77 billion, a PE ratio of 12.11, a PEG ratio of 2.07 and a beta of 1.11. The firm’s 50-day simple moving average is $81.62 and its 200-day simple moving average is $79.00. Royal Bank of Canada has a one year low of $65.76 and a one year high of $82.58.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Waratah Capital Advisors Ltd. raised its stake in Royal Bank of Canada by 252.4% in the 3rd quarter. Waratah Capital Advisors Ltd. now owns 67,538 shares of the financial services provider’s stock valued at $5,481,000 after acquiring an additional 111,862 shares during the period. Man Group plc lifted its holdings in shares of Royal Bank of Canada by 14.8% in the third quarter. Man Group plc now owns 412,393 shares of the financial services provider’s stock worth $33,474,000 after buying an additional 53,093 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Royal Bank of Canada in the third quarter valued at approximately $760,000. Voloridge Investment Management LLC boosted its position in shares of Royal Bank of Canada by 31.9% in the third quarter. Voloridge Investment Management LLC now owns 124,683 shares of the financial services provider’s stock valued at $10,119,000 after acquiring an additional 30,169 shares during the period. Finally, National Pension Service boosted its position in shares of Royal Bank of Canada by 5.0% in the third quarter. National Pension Service now owns 1,583,962 shares of the financial services provider’s stock valued at $170,228,000 after acquiring an additional 75,294 shares during the period. Institutional investors own 42.02% 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 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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The Fly

Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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