Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $305.00

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by investment analysts at Susquehanna from $245.00 to $305.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 13.16% from the stock’s previous close.

Several other equities research analysts have also weighed in on RCL. Argus increased their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays increased their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial upped their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Mizuho reiterated an “outperform” rating and issued a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Finally, Morgan Stanley upped their price target on shares of Royal Caribbean Cruises from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $271.06.

Royal Caribbean Cruises Stock Performance

Shares of RCL traded up $4.28 during mid-day trading on Wednesday, hitting $269.53. The stock had a trading volume of 687,768 shares, compared to its average volume of 2,382,887. Royal Caribbean Cruises has a fifty-two week low of $113.10 and a fifty-two week high of $271.31. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The company has a market cap of $72.47 billion, a PE ratio of 27.70, a PEG ratio of 0.50 and a beta of 2.59. The company’s fifty day simple moving average is $238.47 and its two-hundred day simple moving average is $200.21.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm earned $1.25 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the 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 completion of the sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This represents a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the business’s 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 sale, the executive vice president now directly owns 22,348 shares in the company, 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. In the last three months, insiders sold 372,609 shares of company stock valued at $87,647,208. 7.95% of the stock is owned by insiders.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds have recently bought and sold shares of RCL. Fifth Third Wealth Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 2.2% during the fourth 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 during the period. Bartlett & CO. Wealth Management LLC grew its position in Royal Caribbean Cruises by 12.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock worth $106,000 after purchasing an additional 50 shares in the last quarter. FSM Wealth Advisors LLC raised its stake in Royal Caribbean Cruises by 3.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after purchasing an additional 51 shares during the period. 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 lifted its holdings in shares of Royal Caribbean Cruises by 10.5% in the fourth quarter. Grove Bank & Trust now owns 613 shares of the company’s stock valued at $141,000 after purchasing an additional 58 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other 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.