Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $287.00 at Barclays

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by research analysts at Barclays from $245.00 to $287.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 17.22% from the stock’s previous close.

Several other research firms also recently commented on RCL. The Goldman Sachs Group lifted their price objective on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Truist Financial lifted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Tigress Financial upped their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.75.

Royal Caribbean Cruises Stock Up 0.3 %

Royal Caribbean Cruises stock traded up $0.68 during midday trading on Friday, reaching $244.83. The company’s stock had a trading volume of 493,840 shares, compared to its average volume of 2,320,218. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The stock has a market capitalization of $65.83 billion, a P/E ratio of 25.15, a PEG ratio of 0.65 and a beta of 2.59. The stock’s 50-day simple moving average is $221.05 and its 200-day simple moving average is $181.23. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.85 earnings per share. On average, sell-side analysts expect that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This trade represents a 40.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was 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 of the company’s stock, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,332 shares of company stock worth $94,299,521. Company insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors have recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises in the 3rd quarter valued at $26,000. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises in the second quarter valued at about $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Royal Caribbean Cruises in the 3rd quarter worth approximately $31,000. 87.53% of the stock is owned by institutional investors and hedge funds.

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.