Royal Caribbean Cruises (NYSE:RCL) Lifted to “Buy” at Truist Financial

Royal Caribbean Cruises (NYSE:RCL) was upgraded by equities research analysts at Truist Financial from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, FlyOnTheWall reports.

RCL has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on shares of Royal Caribbean Cruises from $100.00 to $103.00 in a research note on Monday, June 12th. Tigress Financial boosted their price objective on shares of Royal Caribbean Cruises from $102.00 to $139.00 in a research report on Tuesday, August 15th. Bank of America raised their target price on shares of Royal Caribbean Cruises from $82.00 to $95.00 in a research report on Monday, June 12th. Barclays increased their price target on Royal Caribbean Cruises from $113.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on Royal Caribbean Cruises in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.69.

Royal Caribbean Cruises Stock Down 1.5 %

Royal Caribbean Cruises stock opened at $95.94 on Tuesday. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 5.28. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of -299.79 and a beta of 2.47. The stock has a 50 day moving average of $101.25 and a two-hundred day moving average of $85.32. Royal Caribbean Cruises has a twelve month low of $36.92 and a twelve month high of $112.95.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.24. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.41 billion. Royal Caribbean Cruises had a positive return on equity of 6.76% and a negative net margin of 0.47%. The company’s revenue for the quarter was up 61.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.08) earnings per share. As a group, research analysts expect that Royal Caribbean Cruises will post 6.21 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Henry L. Pujol sold 18,908 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $106.74, for a total transaction of $2,018,239.92. Following the sale, the chief accounting officer now owns 23,521 shares in the company, valued at $2,510,631.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Royal Caribbean Cruises news, Director Maritza Gomez Montiel acquired 1,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $103.70 per share, for a total transaction of $103,700.00. Following the acquisition, the director now directly owns 13,592 shares of the company’s stock, valued at $1,409,490.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Henry L. Pujol sold 18,908 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $106.74, for a total value of $2,018,239.92. Following the completion of the transaction, the chief accounting officer now directly owns 23,521 shares in the company, valued at $2,510,631.54. The disclosure for this sale can be found here. In the last three months, insiders sold 44,857 shares of company stock valued at $4,650,818. Company insiders own 8.70% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. acquired a new position in Royal Caribbean Cruises during the 2nd quarter worth $693,000. SOA Wealth Advisors LLC. bought a new stake in Royal Caribbean Cruises in the second quarter valued at about $29,000. Raleigh Capital Management Inc. bought a new position in Royal Caribbean Cruises during the 2nd quarter worth approximately $30,000. Hollencrest Capital Management grew its position in shares of Royal Caribbean Cruises by 494.2% in the 2nd quarter. Hollencrest Capital Management now owns 309 shares of the company’s stock worth $32,000 after acquiring an additional 257 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Royal Caribbean Cruises by 496.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 316 shares of the company’s stock valued at $33,000 after acquiring an additional 263 shares during the last quarter. Institutional investors own 75.64% of the company’s stock.

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.