Barclays Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $308.00

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by Barclays from $287.00 to $308.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 12.02% from the company’s previous close.

RCL has been the subject of several other reports. Bank of America upped their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, January 17th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group cut their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.19.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $274.94 on Wednesday. The stock has a 50 day simple moving average of $239.12 and a 200 day simple moving average of $200.69. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $275.05. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The firm has a market capitalization of $73.93 billion, a PE ratio of 28.26, a P/E/G ratio of 0.50 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. During the same quarter last year, the business earned $1.25 EPS. Sell-side analysts predict that Royal Caribbean Cruises will post 11.66 EPS for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now directly owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock valued at $87,647,208 in the last quarter. 7.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently modified their holdings of the company. D1 Capital Partners L.P. grew its stake in shares of Royal Caribbean Cruises by 3.8% in the third quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock valued at $278,502,000 after acquiring an additional 58,159 shares in the last quarter. Swiss National Bank boosted its holdings in Royal Caribbean Cruises by 0.5% in the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after purchasing an additional 3,800 shares during the period. Disciplined Growth Investors Inc. MN grew its position in shares of Royal Caribbean Cruises by 2.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after purchasing an additional 13,520 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Royal Caribbean Cruises by 3.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 569,890 shares of the company’s stock worth $131,468,000 after purchasing an additional 18,868 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Royal Caribbean Cruises by 10,599.0% during the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

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.