Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $165.00 at Barclays

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by equities researchers at Barclays from $154.00 to $165.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 18.59% from the stock’s previous close.

Several other brokerages have also recently issued reports on RCL. Morgan Stanley lifted their price objective on shares of 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. Mizuho began coverage on shares of Royal Caribbean Cruises in a research note on Wednesday, April 17th. They set a “buy” rating and a $164.00 price objective for the company. Susquehanna upped their price target on Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Finally, UBS Group raised 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. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average target price of $138.18.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded up $1.66 during midday trading on Friday, hitting $139.13. 832,176 shares of the company’s stock were exchanged, compared to its average volume of 2,758,702. The firm has a market cap of $35.71 billion, a P/E ratio of 22.52, a PEG ratio of 0.50 and a beta of 2.52. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a twelve month low of $59.38 and a twelve month high of $141.70. The stock’s 50 day moving average price is $129.71 and its 200-day moving average price is $117.11.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.33 by $0.44. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.23) earnings per share. Equities research analysts anticipate that Royal Caribbean Cruises will post 10.06 EPS for the current year.

Insider Activity

In other news, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the transaction, the chief executive officer now owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BKM Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $26,000. ST Germain D J Co. Inc. grew its stake in shares of Royal Caribbean Cruises by 65.0% in the third quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock worth $30,000 after acquiring an additional 130 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter valued at about $30,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth $33,000. 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.