Royal Caribbean Cruises (NYSE:RCL) Trading 4.4% Higher After Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) traded up 4.4% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $213.00 to $243.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $214.12 and last traded at $212.53. 1,938,642 shares were traded during trading, a decline of 19% from the average session volume of 2,387,305 shares. The stock had previously closed at $203.52.

A number of other research firms have also recently issued reports on RCL. UBS Group increased their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America increased their target price on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group lifted their price target on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $199.27.

Insider Transactions at Royal Caribbean Cruises

In other news, CFO Naftali Holtz acquired 5,350 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the transaction, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Naftali Holtz bought 5,350 shares of Royal Caribbean Cruises stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the acquisition, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 7.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RCL. DiNuzzo Private Wealth Inc. increased its holdings in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares during the period. Unique Wealth Strategies LLC bought a new position in Royal Caribbean Cruises in the second quarter valued at approximately $27,000. Versant Capital Management Inc raised its position in Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after purchasing an additional 172 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The company has a market cap of $54.10 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. The company has a 50 day moving average price of $178.28 and a 200-day moving average price of $160.35.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.