Tigress Financial Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by investment analysts at Tigress Financial from $270.00 to $330.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Tigress Financial’s price target would suggest a potential upside of 23.52% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. 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. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective on the stock. The Goldman Sachs Group decreased their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Argus increased their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Loop Capital initiated coverage on Royal Caribbean Cruises in a research report on Tuesday. They set a “hold” rating and a $250.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock traded down $3.05 on Friday, reaching $267.15. The stock had a trading volume of 553,505 shares, compared to its average volume of 2,337,939. The stock has a market cap of $71.83 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises has a 1 year low of $113.10 and a 1 year high of $277.08. The company has a 50 day simple moving average of $242.24 and a 200 day simple moving average of $204.62.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period in the previous year, the firm posted $1.25 EPS. Equities research analysts expect that Royal Caribbean Cruises will post 14.96 EPS for the current year.

Insider Activity

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises 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 sale, the director now owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 372,609 shares of company stock valued at $87,647,208 in the last quarter. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Large investors have recently modified their holdings of the company. Plato Investment Management Ltd acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises in the third quarter valued at $27,000. Bay Harbor Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the fourth quarter worth about $36,000. DiNuzzo Private Wealth Inc. grew its stake in Royal Caribbean Cruises by 257.4% during 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 during the period. Finally, ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at $40,000. 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.