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

Royal Caribbean Cruises Ltd. (NYSE:RCL) traded up 4.4% 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 trading, a decline of 19% from the average session volume of 2,387,305 shares. The stock had previously closed at $203.52.

A number of other equities research analysts also recently weighed in on the company. UBS Group lifted their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Mizuho upped their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Macquarie upped their price objective on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Finally, Citigroup raised their price objective on shares of Royal Caribbean Cruises from $204.00 to $253.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average target price of $199.27.

Insider Activity

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

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of large investors have recently modified their holdings of RCL. Conning Inc. purchased a new stake in shares of Royal Caribbean Cruises in the third quarter worth $209,000. swisspartners Advisors Ltd boosted its position in shares of Royal Caribbean Cruises by 1.9% during the 3rd quarter. swisspartners Advisors Ltd now owns 69,175 shares of the company’s stock valued at $12,269,000 after acquiring an additional 1,320 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Royal Caribbean Cruises during the third quarter worth about $182,000. Farther Finance Advisors LLC increased its position in shares of Royal Caribbean Cruises by 85.4% in the third quarter. Farther Finance Advisors LLC now owns 2,688 shares of the company’s stock worth $477,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $126,000. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Trading Up 3.5 %

The firm’s 50-day simple moving average is $177.25 and its 200-day simple moving average is $159.77. The firm has a market capitalization of $54.23 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20.

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.