Royal Caribbean Cruises (NYSE:RCL) Given New $290.00 Price Target at Loop Capital

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its price objective lifted by analysts at Loop Capital from $250.00 to $290.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Loop Capital's target price suggests a potential upside of 9.14% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Barclays lifted their price objective on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Northcoast Research initiated coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They set a "buy" rating and a $279.00 target price on the stock. Macquarie decreased their target price on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Tigress Financial boosted their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.20.

Royal Caribbean Cruises Trading Down 0.4%

Shares of NYSE RCL traded down $1.04 during trading on Tuesday, reaching $265.72. The company had a trading volume of 1,136,143 shares, compared to its average volume of 2,271,823. The stock has a market cap of $72.16 billion, a P/E ratio of 24.86, a PEG ratio of 0.90 and a beta of 2.14. The company's fifty day moving average price is $220.49 and its 200-day moving average price is $232.25. 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 has a 12 month low of $130.08 and a 12 month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. As a group, research analysts expect that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its board has authorized a stock repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the transaction, the director now owns 165,421 shares in the company, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC increased its position in shares of Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock valued at $498,000 after purchasing an additional 1,804 shares during the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new stake in Royal Caribbean Cruises during the fourth quarter worth about $231,000. Geode Capital Management LLC raised its position in Royal Caribbean Cruises by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after acquiring an additional 353,893 shares during the period. Principal Financial Group Inc. boosted its stake in Royal Caribbean Cruises by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock valued at $67,137,000 after acquiring an additional 7,740 shares during the last quarter. Finally, Dorsey Wright & Associates bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $4,221,000. 87.53% of the stock is 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.