Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $230.00 at Morgan Stanley

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its target price lifted by Morgan Stanley from $220.00 to $230.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 1.70% from the stock's current price.

Several other research firms have also recently weighed in on RCL. The Goldman Sachs Group dropped their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Northcoast Research began coverage on Royal Caribbean Cruises in a research note on Friday, April 25th. They set a "buy" rating and a $279.00 target price for the company. Loop Capital upgraded Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price on the stock in a research report on Wednesday, March 5th. Macquarie increased their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Barclays boosted their price objective on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $273.05.

Royal Caribbean Cruises Price Performance

RCL stock traded down $2.60 during mid-day trading on Tuesday, reaching $226.16. The company's stock had a trading volume of 501,748 shares, compared to its average volume of 2,293,303. Royal Caribbean Cruises has a fifty-two week low of $130.08 and a fifty-two week high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a market cap of $61.41 billion, a PE ratio of 21.17, a P/E/G ratio of 0.90 and a beta of 2.12. The company's 50 day moving average is $209.21 and its two-hundred day moving average is $227.75.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping 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 analyst estimates of $4.02 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the transaction, the chief financial officer now owns 42,127 shares of the company's stock, valued at $11,021,265.74. This represents a 28.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now directly owns 185,021 shares of the company's stock, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock worth $28,571,705 over the last 90 days. 7.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in Royal Caribbean Cruises in the third quarter valued at approximately $109,000. CWA Asset Management Group LLC grew its position in shares of Royal Caribbean Cruises by 6.5% in the 4th quarter. CWA Asset Management Group LLC now owns 3,296 shares of the company's stock valued at $760,000 after buying an additional 202 shares during the last quarter. Range Financial Group LLC grew its position in shares of Royal Caribbean Cruises by 582.8% in the 4th quarter. Range Financial Group LLC now owns 19,426 shares of the company's stock valued at $4,481,000 after buying an additional 16,581 shares during the last quarter. Fulton Bank N.A. raised its stake in Royal Caribbean Cruises by 36.7% during the 4th quarter. Fulton Bank N.A. now owns 6,661 shares of the company's stock worth $1,537,000 after acquiring an additional 1,788 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter valued at $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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