Royal Caribbean Cruises (NYSE:RCL) Stock Price Up 4.4% Following Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report)'s share price shot up 4.4% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $213.00 to $243.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $214.12 and last traded at $212.53. 1,938,642 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 2,387,305 shares. The stock had previously closed at $203.52.

Several other equities analysts also recently commented on the stock. Barclays upped their price objective on shares of Royal Caribbean Cruises from $195.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 7th. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. UBS Group upped their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Finally, Susquehanna lifted their price target on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a "positive" rating in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $199.27.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Vagn O. Sorensen sold 5,800 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company's stock, valued at approximately $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Laura H. Bethge sold 3,073 shares of the company's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several hedge funds have recently made changes to their positions in RCL. D1 Capital Partners L.P. increased its position in shares of Royal Caribbean Cruises by 105.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company's stock valued at $241,075,000 after acquiring an additional 777,103 shares during the period. International Assets Investment Management LLC increased its position in shares of Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company's stock valued at $72,696,000 after acquiring an additional 406,048 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Royal Caribbean Cruises by 24.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company's stock valued at $326,616,000 after acquiring an additional 400,565 shares during the period. Capital International Investors increased its position in shares of Royal Caribbean Cruises by 1.0% in the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company's stock valued at $4,114,203,000 after acquiring an additional 286,868 shares during the period. Finally, Forest Avenue Capital Management LP purchased a new stake in Royal Caribbean Cruises in the second quarter valued at $35,038,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The company has a market capitalization of $54.10 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. The firm's fifty day simple moving average is $178.28 and its 200 day simple moving average is $160.35.

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.