Norwegian Cruise Line (NYSE:NCLH) Hits New 12-Month High on Analyst Upgrade

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s stock price reached a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $25.00 to $35.00. Truist Financial currently has a buy rating on the stock. Norwegian Cruise Line traded as high as $28.64 and last traded at $27.97, with a volume of 4828345 shares. The stock had previously closed at $26.89.

NCLH has been the subject of several other reports. Barclays lifted their target price on shares of Norwegian Cruise Line from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Citigroup raised Norwegian Cruise Line from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $30.00 in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their target price on Norwegian Cruise Line from $21.00 to $24.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Morgan Stanley boosted their price target on Norwegian Cruise Line from $19.00 to $26.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Finally, Macquarie increased their price objective on Norwegian Cruise Line from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.27.

Insider Buying and Selling

In related news, CFO Mark Kempa sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.86, for a total value of $417,900.00. Following the completion of the sale, the chief financial officer now directly owns 253,386 shares of the company’s stock, valued at approximately $7,059,333.96. This represents a 5.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Faye L. Ashby sold 38,344 shares of Norwegian Cruise Line stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $27.30, for a total transaction of $1,046,791.20. Following the transaction, the chief accounting officer now directly owns 116,270 shares in the company, valued at $3,174,171. This represents a 24.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,344 shares of company stock valued at $2,269,731. 0.52% of the stock is owned by company insiders.

Institutional Trading of Norwegian Cruise Line

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp increased its stake in Norwegian Cruise Line by 4.3% in the 3rd quarter. State Street Corp now owns 15,241,984 shares of the company’s stock worth $312,613,000 after buying an additional 621,793 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Norwegian Cruise Line by 2.6% in the third quarter. Geode Capital Management LLC now owns 10,522,834 shares of the company’s stock worth $215,481,000 after acquiring an additional 261,925 shares during the period. Baillie Gifford & Co. purchased a new stake in shares of Norwegian Cruise Line during the third quarter worth about $179,146,000. Dimensional Fund Advisors LP raised its stake in Norwegian Cruise Line by 32.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,568,122 shares of the company’s stock valued at $85,835,000 after purchasing an additional 1,129,770 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Norwegian Cruise Line by 864.9% in the 3rd quarter. Two Sigma Advisers LP now owns 3,864,600 shares of the company’s stock worth $79,263,000 after purchasing an additional 3,464,100 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

Norwegian Cruise Line Stock Down 3.5 %

The company has a current ratio of 0.20, a quick ratio of 0.17 and a debt-to-equity ratio of 10.35. The company has a 50 day simple moving average of $24.48 and a two-hundred day simple moving average of $20.12. The firm has a market capitalization of $12.03 billion, a P/E ratio of 25.11, a P/E/G ratio of 0.32 and a beta of 2.65.

Norwegian Cruise Line (NYSE:NCLH) last posted its earnings results on Thursday, October 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.05. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Norwegian Cruise Line had a net margin of 5.87% and a return on equity of 99.31%. Norwegian Cruise Line’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $0.71 earnings per share. On average, equities analysts predict that Norwegian Cruise Line Holdings Ltd. will post 1.51 EPS for the current fiscal year.

About Norwegian Cruise Line

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates through the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various ports, including Scandinavia, Northern Europe, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean.