Bank of America Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $145.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective boosted by Bank of America from $135.00 to $145.00 in a report issued on Thursday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on RCL. Susquehanna upped their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research report on Friday, April 26th. The Goldman Sachs Group reissued a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Barclays boosted their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an overweight rating in a research report on Friday, April 26th. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a research note on Friday, March 15th. Finally, Mizuho boosted their target price on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a buy rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of Moderate Buy and a consensus price target of $146.13.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock traded up $5.04 during mid-day trading on Thursday, reaching $143.25. The company’s stock had a trading volume of 2,583,351 shares, compared to its average volume of 2,788,472. The firm has a market cap of $36.87 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.41 and a beta of 2.49. The business has a 50 day moving average price of $132.31 and a 200-day moving average price of $119.73. 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 has a twelve month low of $73.93 and a twelve month high of $143.62.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.69 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The firm’s revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Sell-side analysts predict that Royal Caribbean Cruises will post 11.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Henry L. Pujol sold 9,944 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the completion of the sale, the chief accounting officer now owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Henry L. Pujol sold 9,944 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the completion of the transaction, the chief accounting officer now directly owns 16,687 shares of the company’s stock, valued at approximately $2,356,705.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction on Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of 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. Insiders have sold 71,697 shares of company stock valued at $9,749,357 in the last ninety days. 7.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCL. Chevy Chase Trust Holdings LLC boosted its holdings in shares of Royal Caribbean Cruises by 4.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 135,474 shares of the company’s stock worth $12,483,000 after buying an additional 5,951 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Royal Caribbean Cruises by 303.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 89,930 shares of the company’s stock valued at $8,286,000 after buying an additional 67,657 shares in the last quarter. Xponance Inc. increased its holdings in Royal Caribbean Cruises by 7.6% during the third quarter. Xponance Inc. now owns 38,478 shares of the company’s stock worth $3,545,000 after buying an additional 2,710 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Royal Caribbean Cruises by 11.7% in the third quarter. Raymond James & Associates now owns 77,250 shares of the company’s stock valued at $7,118,000 after purchasing an additional 8,093 shares during the last quarter. Finally, Independent Advisor Alliance boosted its position in shares of Royal Caribbean Cruises by 16.0% in the third quarter. Independent Advisor Alliance now owns 8,224 shares of the company’s stock valued at $758,000 after acquiring an additional 1,132 shares during the period. 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.