Royal Caribbean Cruises (NYSE:RCL) Price Target Increased to $145.00 by Analysts at Bank of America

Royal Caribbean Cruises (NYSE:RCL) had its price target upped by Bank of America from $135.00 to $145.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the stock an overweight rating in a research note on Friday, April 26th. UBS Group boosted their target price on Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a research report on Friday, February 16th. Barclays increased their price target on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a research note on Friday, April 26th. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group reiterated a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $141.71.

Royal Caribbean Cruises Price Performance

NYSE:RCL traded up $0.83 on Thursday, reaching $138.21. 2,091,140 shares of the company’s stock traded hands, compared to its average volume of 3,018,203. The stock has a 50-day simple moving average of $131.98 and a 200-day simple moving average of $118.89. Royal Caribbean Cruises has a 12 month low of $70.58 and a 12 month high of $143.62. The firm has a market cap of $35.57 billion, a PE ratio of 17.81, a P/E/G ratio of 0.45 and a beta of 2.49. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the business posted ($0.23) earnings per share. The firm’s revenue was up 29.2% on a year-over-year basis. Equities research analysts forecast that Royal Caribbean Cruises will post 11.13 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total value of $1,363,465.53. Following the sale, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Henry L. Pujol sold 9,944 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the transaction, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the sale, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The disclosure for this sale can be found here. Insiders sold 71,697 shares of company stock worth $9,749,357 over the last 90 days. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors have recently made changes to their positions in the company. Kowal Investment Group LLC grew its holdings in Royal Caribbean Cruises by 4.0% during the 1st quarter. Kowal Investment Group LLC now owns 2,286 shares of the company’s stock worth $318,000 after acquiring an additional 87 shares in the last quarter. West Branch Capital LLC boosted its stake in shares of 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 purchasing an additional 100 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in Royal Caribbean Cruises by 24.6% during the fourth quarter. Toth Financial Advisory Corp now owns 506 shares of the company’s stock valued at $66,000 after buying an additional 100 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Royal Caribbean Cruises by 11.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,026 shares of the company’s stock worth $143,000 after buying an additional 107 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Royal Caribbean Cruises by 2.7% during the first quarter. Ballentine Partners LLC now owns 4,304 shares of the company’s stock worth $598,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.