Royal Bank Of Canada Issues Pessimistic Forecast for PICS (NASDAQ:PICS) Stock Price

PICS (NASDAQ:PICS) had its target price lowered by Royal Bank Of Canada from $19.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 88.48% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. HSBC began coverage on PICS in a report on Thursday, February 19th. They issued a “buy” rating and a $21.00 price objective for the company. Wells Fargo & Company set a $27.00 price objective on PICS in a report on Tuesday, February 24th. Wolfe Research upgraded PICS to a “strong-buy” rating in a report on Monday, February 23rd. Zacks Research upgraded PICS to a “hold” rating in a report on Wednesday, February 25th. Finally, Bank of America began coverage on PICS in a report on Tuesday, February 24th. They issued a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.17.

PICS Price Performance

Shares of NASDAQ PICS traded down $1.62 during mid-day trading on Wednesday, hitting $9.55. The company had a trading volume of 1,051,832 shares, compared to its average volume of 629,473. The company has a 50-day moving average price of $11.73. PICS has a one year low of $9.05 and a one year high of $19.95.

Insider Transactions at PICS

In other news, Director William Rodney Pruett bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was acquired at an average cost of $11.80 per share, for a total transaction of $1,180,000.00. Following the purchase, the director owned 100,000 shares of the company’s stock, valued at approximately $1,180,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.