Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $310.00 at Stifel Nicolaus

Royal Caribbean Cruises (NYSE:RCL) had its price target hoisted by Stifel Nicolaus from $250.00 to $310.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on RCL. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Truist Financial increased their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup boosted their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America raised their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.63.

Royal Caribbean Cruises Price Performance

RCL opened at $258.09 on Friday. Royal Caribbean Cruises has a 1 year low of $113.10 and a 1 year high of $258.21. The company’s 50 day simple moving average is $215.38 and its 200 day simple moving average is $178.94. The stock has a market capitalization of $69.40 billion, a PE ratio of 26.53, a P/E/G ratio of 0.66 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $3.85 EPS. As a group, sell-side analysts expect that Royal Caribbean Cruises will post 11.64 EPS for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the sale, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock valued at $94,299,521 in the last ninety days. Insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. D1 Capital Partners L.P. boosted its holdings in shares of Royal Caribbean Cruises by 105.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after buying an additional 777,103 shares during the period. International Assets Investment Management LLC lifted its holdings in Royal Caribbean Cruises by 10,599.0% in the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after acquiring an additional 406,048 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after acquiring an additional 400,565 shares during the period. Forest Avenue Capital Management LP bought a new position in shares of Royal Caribbean Cruises during the second quarter valued at approximately $35,038,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Royal Caribbean Cruises by 809.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock worth $27,601,000 after purchasing an additional 154,090 shares during the period. Institutional investors own 87.53% 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 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.