Truist Financial Issues Positive Forecast for Norwegian Cruise Line (NYSE:NCLH) Stock Price

Norwegian Cruise Line (NYSE:NCLH) had its target price increased by equities research analysts at Truist Financial from $25.00 to $35.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 27.88% from the company’s current price.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group lifted their price objective on Norwegian Cruise Line from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Citigroup upgraded Norwegian Cruise Line from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $30.00 in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Norwegian Cruise Line from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Tigress Financial lifted their price objective on shares of Norwegian Cruise Line from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Monday, November 11th. Finally, Macquarie increased their target price on shares of Norwegian Cruise Line from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.27.

Norwegian Cruise Line Stock Performance

Shares of NCLH stock opened at $27.37 on Monday. The stock has a market capitalization of $12.03 billion, a PE ratio of 25.11, a PEG ratio of 0.32 and a beta of 2.65. The business’s 50 day simple moving average is $24.48 and its 200 day simple moving average is $20.12. The company has a debt-to-equity ratio of 10.35, a current ratio of 0.20 and a quick ratio of 0.17. Norwegian Cruise Line has a one year low of $14.69 and a one year high of $28.64.

Norwegian Cruise Line (NYSE:NCLH) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.05. Norwegian Cruise Line had a net margin of 5.87% and a return on equity of 99.31%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the firm posted $0.71 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, research analysts forecast that Norwegian Cruise Line will post 1.51 earnings per share for the current year.

Insider Activity at Norwegian Cruise Line

In other Norwegian Cruise Line news, CAO Faye L. Ashby sold 38,344 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $27.30, for a total value of $1,046,791.20. Following the completion of the sale, the chief accounting officer now directly owns 116,270 shares of the company’s stock, valued at approximately $3,174,171. This represents a 24.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrea Demarco sold 29,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.76, for a total transaction of $805,040.00. Following the completion of the sale, the insider now owns 97,304 shares of the company’s stock, valued at approximately $2,701,159.04. This trade represents a 22.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,344 shares of company stock valued at $2,269,731 over the last 90 days. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Norwegian Cruise Line

Several large investors have recently made changes to their positions in NCLH. Avior Wealth Management LLC boosted its holdings in shares of Norwegian Cruise Line by 34.1% in the 3rd quarter. Avior Wealth Management LLC now owns 1,686 shares of the company’s stock worth $35,000 after buying an additional 429 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Norwegian Cruise Line by 2.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $509,000 after acquiring an additional 500 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Norwegian Cruise Line by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 46,016 shares of the company’s stock worth $944,000 after purchasing an additional 509 shares during the last quarter. Mount Lucas Management LP increased its stake in shares of Norwegian Cruise Line by 2.4% during the 3rd quarter. Mount Lucas Management LP now owns 22,055 shares of the company’s stock worth $452,000 after purchasing an additional 516 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Norwegian Cruise Line by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,757 shares of the company’s stock worth $918,000 after purchasing an additional 521 shares during the period. 69.58% of the stock is owned by hedge funds and other institutional investors.

Norwegian Cruise Line Company Profile

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.