Truist Financial Upgrades Carnival Co. & (NYSE:CCL) to “Hold”

Carnival Co. & (NYSE:CCL) was upgraded by stock analysts at Truist Financial from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a $17.00 target price on the stock, up from their previous target price of $16.00. Truist Financial’s target price would suggest a potential upside of 12.96% from the company’s current price.

Several other research firms have also issued reports on CCL. Stifel Nicolaus lifted their price objective on shares of Carnival Co. & from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, August 30th. Tigress Financial raised their price objective on Carnival Co. & from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 29th. Jefferies Financial Group raised shares of Carnival Co. & from a “hold” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $25.00 in a report on Friday, June 30th. Redburn Atlantic upgraded Carnival Co. & from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research note on Thursday, September 14th. Finally, Susquehanna raised their price objective on shares of Carnival Co. & from $11.00 to $17.00 in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.66.

Carnival Co. & Stock Down 0.9 %

CCL stock opened at $15.05 on Tuesday. The company’s 50 day simple moving average is $16.81 and its 200-day simple moving average is $13.45. The company has a debt-to-equity ratio of 5.44, a current ratio of 0.52 and a quick ratio of 0.49. Carnival Co. & has a 52-week low of $6.11 and a 52-week high of $19.55. The firm has a market capitalization of $16.85 billion, a P/E ratio of -5.39 and a beta of 2.40.

Carnival Co. & (NYSE:CCL) last issued its earnings results on Monday, June 26th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.03. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.79 billion. Carnival Co. & had a negative return on equity of 41.35% and a negative net margin of 19.83%. Carnival Co. &’s revenue was up 104.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.64) earnings per share. As a group, equities research analysts anticipate that Carnival Co. & will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CCL. Desjardins Global Asset Management Inc. grew its stake in shares of Carnival Co. & by 210.9% in the first quarter. Desjardins Global Asset Management Inc. now owns 2,587 shares of the company’s stock valued at $26,000 after buying an additional 1,755 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Carnival Co. & in the 2nd quarter valued at about $27,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Carnival Co. & during the 1st quarter worth about $28,000. Manchester Capital Management LLC acquired a new stake in Carnival Co. & in the 1st quarter valued at about $29,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Carnival Co. & by 168.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,530 shares of the company’s stock worth $29,000 after purchasing an additional 959 shares during the period. 55.54% of the stock is currently owned by institutional investors.

Carnival Co. & Company Profile

Carnival Corporation & plc engages in the provision of leisure travel services. The company operates a fleet of more than 90 ships visit approximately 700 ports under AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&O Cruises (Australia), P&O Cruises (UK), and Seabourn brand names.