Barclays Lowers Royal Caribbean Cruises (NYSE:RCL) Price Target to $249.00

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its price target dropped by equities researchers at Barclays from $308.00 to $249.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 24.95% from the company's previous close.

Several other research firms also recently weighed in on RCL. Wells Fargo & Company increased their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Argus increased their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Stifel Nicolaus dropped their price target on Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Macquarie lifted their price objective on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $273.84.

Royal Caribbean Cruises Price Performance

Shares of RCL traded up $9.77 on Tuesday, reaching $199.28. The stock had a trading volume of 1,221,829 shares, compared to its average volume of 2,328,958. The firm has a 50-day moving average of $216.22 and a 200 day moving average of $226.27. The firm has a market capitalization of $53.63 billion, a PE ratio of 18.65, a PEG ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises has a twelve month low of $129.54 and a twelve month high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period in the prior year, the firm earned $1.25 EPS. Sell-side analysts expect that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the transaction, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 over the last ninety days. 7.95% 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 added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its position in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $35,000. Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises during the fourth quarter valued at about $36,000. Truvestments Capital LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth about $36,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $40,000. 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.

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