Royal Caribbean Cruises (NYSE:RCL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its price target boosted by analysts at Wells Fargo & Company from $232.00 to $272.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 2.76% from the company's previous close.

A number of other equities research analysts also recently weighed in on RCL. Truist Financial upped their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an "outperform" rating and a $290.00 price target on the stock. Barclays increased their price objective on Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. The Goldman Sachs Group decreased their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating for the company in a research note on Friday. Finally, Macquarie raised their price objective on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and fourteen 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 price target of $252.31.

Royal Caribbean Cruises Stock Up 11.8 %

Shares of NYSE RCL traded up $27.89 on Monday, hitting $264.71. The company had a trading volume of 8,086,822 shares, compared to its average volume of 2,484,979. The firm has a market capitalization of $71.17 billion, a P/E ratio of 27.21, a PEG ratio of 0.50 and a beta of 2.59. The business has a 50 day moving average of $237.87 and a two-hundred day moving average of $199.52. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $269.96.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. During the same quarter in the previous year, the business earned $1.25 EPS. As a group, equities research analysts forecast that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the sale, the director now owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares of the company's stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake 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 worth $72,696,000 after buying an additional 406,048 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Royal Caribbean Cruises by 809.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company's stock valued at $27,601,000 after acquiring an additional 154,090 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Royal Caribbean Cruises by 138.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company's stock worth $28,703,000 after purchasing an additional 93,899 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Royal Caribbean Cruises during the third quarter valued at about $14,544,000. Finally, Dakota Wealth Management raised its stake in Royal Caribbean Cruises by 3,935.2% during the 3rd quarter. Dakota Wealth Management now owns 76,871 shares of the company's stock valued at $13,635,000 after purchasing an additional 74,966 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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.