Royal Caribbean Cruises (NYSE:RCL) Given New $240.00 Price Target at Bank of America

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by equities research analysts at Bank of America from $210.00 to $240.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 3.00% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Tigress Financial upped their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Truist Financial upped their price objective on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Mizuho lifted their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barclays upped their price target on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $220.00.

Royal Caribbean Cruises Stock Down 0.5 %

Shares of RCL opened at $233.01 on Wednesday. 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 business has a fifty day moving average of $190.67 and a 200 day moving average of $166.84. The company has a market cap of $62.65 billion, a PE ratio of 23.95, a P/E/G ratio of 0.62 and a beta of 2.59. Royal Caribbean Cruises has a 52-week low of $101.00 and a 52-week high of $238.10.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $3.85 EPS. On average, sell-side analysts expect that Royal Caribbean Cruises will post 11.64 EPS for the current year.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 25,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the sale, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,796 shares of company stock valued at $7,170,759 over the last 90 days. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Large investors have recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises during the 3rd quarter valued at about $26,000. Unique Wealth Strategies LLC purchased a new stake in Royal Caribbean Cruises in the second quarter valued at approximately $27,000. Versant Capital Management Inc increased its holdings in Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after buying an additional 172 shares during the period. DiNuzzo Private Wealth Inc. raised its position in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its stake in Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.