Stifel Nicolaus Trims Royal Caribbean Cruises (NYSE:RCL) Target Price to $130.00

Royal Caribbean Cruises (NYSE:RCL) had its price target trimmed by Stifel Nicolaus from $135.00 to $130.00 in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on RCL. Truist Financial raised their price target on Royal Caribbean Cruises from $72.00 to $115.00 and gave the stock a hold rating in a report on Tuesday, July 18th. Argus lifted their target price on Royal Caribbean Cruises from $88.00 to $92.00 in a research note on Wednesday, May 31st. StockNews.com began coverage on Royal Caribbean Cruises in a research note on Thursday, August 17th. They set a hold rating on the stock. VNET Group reaffirmed a maintains rating on shares of Royal Caribbean Cruises in a research note on Monday, June 12th. Finally, JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $100.00 to $103.00 in a research note on Monday, June 12th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $110.69.

Royal Caribbean Cruises Trading Down 1.5 %

Shares of NYSE RCL opened at $95.94 on Friday. The company has a market cap of $24.58 billion, a price-to-earnings ratio of -299.79 and a beta of 2.47. Royal Caribbean Cruises has a 12-month low of $36.92 and a 12-month high of $112.95. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 5.28. The stock’s 50 day simple moving average is $101.25 and its 200 day simple moving average is $85.32.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.24. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.41 billion. Royal Caribbean Cruises had a positive return on equity of 6.76% and a negative net margin of 0.47%. The business’s revenue was up 61.3% on a year-over-year basis. During the same quarter last year, the business posted ($2.08) EPS. Equities research analysts expect that Royal Caribbean Cruises will post 6.21 EPS for the current year.

Insider Transactions at Royal Caribbean Cruises

In related news, CAO Henry L. Pujol sold 18,908 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $106.74, for a total value of $2,018,239.92. Following the transaction, the chief accounting officer now directly owns 23,521 shares in the company, valued at approximately $2,510,631.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael W. Bayley sold 10,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $100.02, for a total transaction of $1,000,200.00. Following the transaction, the chief executive officer now owns 102,191 shares in the company, valued at $10,221,143.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henry L. Pujol sold 18,908 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $106.74, for a total value of $2,018,239.92. Following the transaction, the chief accounting officer now owns 23,521 shares in the company, valued at approximately $2,510,631.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,857 shares of company stock valued at $4,650,818. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund grew its holdings in shares of Royal Caribbean Cruises by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 17,127 shares of the company’s stock valued at $1,777,000 after buying an additional 100 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Royal Caribbean Cruises in the 2nd quarter worth about $693,000. Huntington National Bank increased its position in Royal Caribbean Cruises by 5.2% in the 2nd quarter. Huntington National Bank now owns 2,177 shares of the company’s stock worth $226,000 after purchasing an additional 108 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Royal Caribbean Cruises by 1.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,756 shares of the company’s stock worth $701,000 after purchasing an additional 114 shares during the last quarter. Finally, Independent Advisor Alliance increased its position in Royal Caribbean Cruises by 1.7% in the 2nd quarter. Independent Advisor Alliance now owns 7,092 shares of the company’s stock worth $736,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 75.64% 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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.