Norwegian Cruise Line (NYSE:NCLH) Price Target Raised to $35.00

Norwegian Cruise Line (NYSE:NCLH) had its target price increased by Truist Financial from $25.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 23.54% from the company’s previous close.

Several other research firms have also recently commented on NCLH. Mizuho boosted their target price on Norwegian Cruise Line from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Norwegian Cruise Line from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Norwegian Cruise Line from $21.00 to $24.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Argus raised shares of Norwegian Cruise Line from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, UBS Group raised their price objective on Norwegian Cruise Line from $19.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.27.

Norwegian Cruise Line Stock Up 5.4 %

NCLH stock traded up $1.44 during mid-day trading on Monday, hitting $28.33. 4,126,733 shares of the company were exchanged, compared to its average volume of 12,669,844. The company has a debt-to-equity ratio of 10.35, a quick ratio of 0.17 and a current ratio of 0.20. Norwegian Cruise Line has a 1-year low of $14.69 and a 1-year high of $28.64. The firm’s 50 day simple moving average is $24.21 and its 200 day simple moving average is $19.95. The firm has a market cap of $12.46 billion, a P/E ratio of 25.99, a P/E/G ratio of 0.30 and a beta of 2.67.

Norwegian Cruise Line (NYSE:NCLH) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.99 EPS for the quarter, topping 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 business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business posted $0.71 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts predict that Norwegian Cruise Line will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling at Norwegian Cruise Line

In related news, CFO Mark Kempa sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.86, for a total transaction of $417,900.00. Following the transaction, the chief financial officer now directly owns 253,386 shares of the company’s stock, valued at approximately $7,059,333.96. This trade represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrea Demarco sold 29,000 shares of the business’s 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 directly owns 97,304 shares of the company’s stock, valued at $2,701,159.04. This represents a 22.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,344 shares of company stock valued at $2,269,731 in the last quarter. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Norwegian Cruise Line

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prestige Wealth Management Group LLC grew its stake in Norwegian Cruise Line by 192.3% during the third quarter. Prestige Wealth Management Group LLC now owns 1,216 shares of the company’s stock worth $25,000 after buying an additional 800 shares in the last quarter. Avior Wealth Management LLC increased its stake in Norwegian Cruise Line by 34.1% in the third quarter. Avior Wealth Management LLC now owns 1,686 shares of the company’s stock valued at $35,000 after acquiring an additional 429 shares during the last quarter. Sentry Investment Management LLC acquired a new position in Norwegian Cruise Line during the second quarter valued at approximately $39,000. Blue Trust Inc. lifted its stake in Norwegian Cruise Line by 489.8% during the third quarter. Blue Trust Inc. now owns 2,188 shares of the company’s stock worth $41,000 after purchasing an additional 1,817 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Norwegian Cruise Line during the 3rd quarter worth $56,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

About Norwegian Cruise Line

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.