Barclays Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $308.00

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by Barclays from $287.00 to $308.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 16.36% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup upped their price target on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Truist Financial lifted their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.94.

Royal Caribbean Cruises Stock Up 11.8 %

Shares of NYSE RCL opened at $264.71 on Wednesday. The stock has a market capitalization of $71.17 billion, a P/E ratio of 27.21, a PEG ratio of 0.50 and a beta of 2.59. The stock’s fifty day moving average is $238.47 and its 200 day moving average is $200.21. Royal Caribbean Cruises has a 52 week low of $113.10 and a 52 week high of $269.96. 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 released its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. During the same period last year, the company posted $1.25 EPS. Sell-side analysts forecast that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction that occurred 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 owns 18,556,860 shares in the company, valued at $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on 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 in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock worth $87,647,208 in the last quarter. 7.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently made changes to their positions in RCL. Fifth Third Wealth Advisors LLC lifted its position in Royal Caribbean Cruises by 2.2% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock valued at $544,000 after acquiring an additional 50 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of Royal Caribbean Cruises by 12.3% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock worth $106,000 after purchasing an additional 50 shares during the last quarter. FSM Wealth Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 3.2% in the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Royal Caribbean Cruises by 2.5% in the fourth quarter. Brooklyn Investment Group now owns 2,117 shares of the company’s stock valued at $488,000 after purchasing an additional 52 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Royal Caribbean Cruises by 10.5% during the fourth quarter. Grove Bank & Trust now owns 613 shares of the company’s stock valued at $141,000 after buying an additional 58 shares during the last quarter. 87.53% of the stock is owned by institutional investors.

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.