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

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by equities researchers at Barclays from $287.00 to $308.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 16.36% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Citigroup upped their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial upped their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Bank of America boosted their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Tigress Financial upped their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average price target of $254.94.

Royal Caribbean Cruises Stock Up 11.8 %

RCL stock opened at $264.71 on Wednesday. The stock has a market cap of $71.17 billion, a P/E ratio of 27.21, a P/E/G ratio of 0.50 and a beta of 2.59. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The stock’s fifty day simple moving average is $238.47 and its two-hundred day simple moving average is $200.21. Royal Caribbean Cruises has a 1-year low of $113.10 and a 1-year high of $269.96.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (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 in the prior year, the firm earned $1.25 earnings per share. Analysts expect that Royal Caribbean Cruises will post 11.66 EPS for the current year.

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 372,609 shares of company stock worth $87,647,208. 7.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors have recently modified their holdings of the company. Public Sector Pension Investment Board boosted its stake in shares of Royal Caribbean Cruises by 93.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 8,127 shares of the company’s stock valued at $1,296,000 after purchasing an additional 3,925 shares in the last quarter. NewEdge Advisors LLC boosted its position in Royal Caribbean Cruises by 144.4% during the second quarter. NewEdge Advisors LLC now owns 14,115 shares of the company’s stock valued at $2,250,000 after buying an additional 8,340 shares during the period. EP Wealth Advisors LLC purchased a new stake in Royal Caribbean Cruises during the second quarter valued at about $260,000. Truist Financial Corp grew its stake in shares of Royal Caribbean Cruises by 19.2% during the second quarter. Truist Financial Corp now owns 20,958 shares of the company’s stock valued at $3,341,000 after buying an additional 3,369 shares during the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the second quarter worth about $253,000. 87.53% of the stock is currently owned by institutional investors.

About Royal Caribbean Cruises

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.