Bank of America Raises Norwegian Cruise Line (NYSE:NCLH) Price Target to $29.00

Norwegian Cruise Line (NYSE:NCLH) had its price objective lifted by research analysts at Bank of America from $26.00 to $29.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential upside of 8.74% from the stock’s previous close.

A number of other equities analysts have also weighed in on NCLH. Tigress Financial upped their target price on Norwegian Cruise Line from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Monday. Morgan Stanley boosted their price target on shares of Norwegian Cruise Line from $19.00 to $26.00 and gave the stock an “underweight” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Norwegian Cruise Line from $21.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Macquarie upped their target price on shares of Norwegian Cruise Line from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Norwegian Cruise Line from $21.00 to $24.00 and gave the company a “hold” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.60.

Norwegian Cruise Line Stock Performance

Shares of NCLH opened at $26.67 on Wednesday. Norwegian Cruise Line has a 52-week low of $14.10 and a 52-week high of $28.11. The stock’s 50-day simple moving average is $22.54 and its 200 day simple moving average is $19.12. The company has a debt-to-equity ratio of 10.35, a quick ratio of 0.17 and a current ratio of 0.20. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 0.28 and a beta of 2.67.

Norwegian Cruise Line (NYSE:NCLH) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.99 EPS for the quarter, beating 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 company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business earned $0.71 earnings per share. Norwegian Cruise Line’s revenue was up 10.7% compared to the same quarter last year. Research analysts forecast that Norwegian Cruise Line will post 1.64 EPS for the current fiscal year.

Insider Transactions at Norwegian Cruise Line

In other news, CAO Faye L. Ashby sold 38,344 shares of Norwegian Cruise Line stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $27.30, for a total transaction of $1,046,791.20. Following the sale, the chief accounting officer now owns 116,270 shares of the company’s stock, valued at approximately $3,174,171. The trade was a 24.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrea Demarco sold 29,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.76, for a total transaction of $805,040.00. Following the completion of the transaction, the insider now directly owns 97,304 shares of the company’s stock, valued at approximately $2,701,159.04. The trade was a 22.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,344 shares of company stock worth $2,269,731. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Norwegian Cruise Line

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in Norwegian Cruise Line in the first quarter worth about $27,000. Avior Wealth Management LLC boosted its position in shares of Norwegian Cruise Line by 34.1% in the 3rd quarter. Avior Wealth Management LLC now owns 1,686 shares of the company’s stock worth $35,000 after purchasing an additional 429 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in shares of Norwegian Cruise Line in the 2nd quarter worth approximately $39,000. Blue Trust Inc. increased its position in Norwegian Cruise Line by 489.8% during the 3rd quarter. Blue Trust Inc. now owns 2,188 shares of the company’s stock valued at $41,000 after buying an additional 1,817 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Norwegian Cruise Line in the third quarter worth $56,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Norwegian Cruise Line Company Profile

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.