Royal Caribbean Cruises (NYSE:RCL) Sets New 52-Week High Following Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) shares reached a new 52-week high on Monday after Wells Fargo & Company raised their price target on the stock from $153.00 to $159.00. Wells Fargo & Company currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $143.38 and last traded at $139.36, with a volume of 339169 shares traded. The stock had previously closed at $140.59.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Susquehanna lifted their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a report on Friday. Mizuho upped their price target on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a research report on Friday. Barclays raised their price objective on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Morgan Stanley upped their target price on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and a consensus target price of $138.76.

Insider Activity

In other news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the sale, the chief executive officer now owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the transaction, the chief executive officer now owns 153,017 shares in the company, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RCL. BKM Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth $26,000. Creekmur Asset Management LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth $30,000. Turtle Creek Wealth Advisors LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth $33,000. Finally, West Branch Capital LLC lifted its position in Royal Caribbean Cruises by 50.0% during the fourth quarter. West Branch Capital LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Up 2.0 %

The stock’s fifty day moving average price is $130.74 and its 200 day moving average price is $118.25. The stock has a market cap of $36.89 billion, a P/E ratio of 18.47, a PEG ratio of 0.47 and a beta of 2.52. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.33 by $0.44. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 29.2% on a year-over-year basis. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post 10.8 earnings per share for the current year.

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.