Credit Suisse Group slashes Royal Caribbean Cruises (NYSE:RCL) target price to $117.00

Royal Caribbean Cruises (NYSE:RCL – Get Noted) had its target price reduced by equity analysts at Credit Suisse Group from $135.00 to $117.00 in a research note released on Friday, Benzinga reports. The company currently has an “outperform” rating on the stock. Credit Suisse Group’s price target would suggest a potential upside of 117.59% from the company’s current price.

A number of other equity research analysts have also recently commented on RCL. Tigress Financial reissued a “buy” rating and posted a price target of $80.00 on shares of Royal Caribbean Cruises in a research note on Friday, October 21. Wells Fargo & Company reduced its target price on Royal Caribbean Cruises from $81.00 to $58.00 in a Friday, July 29 research report. Stifel Nicolaus raised his price target on Royal Caribbean Cruises from $60.00 to $70.00 and gave the company a “buy” rating in a Monday, September 19 research report. Truist Financial cut its price target on Royal Caribbean Cruises from $65.00 to $58.00 and set a “hold” rating on the stock in a Tuesday, September 20 research report. Finally, UBS Group reduced its price target on Royal Caribbean Cruises from $65.00 to $56.00 and set a “buy” rating on the stock in a Wednesday, October 12 research report. Two research analysts gave the stock a sell rating, three issued a hold rating and nine gave the company a buy rating. According to MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Price performance of Royal Caribbean cruises

RCL shares opened at $53.77 on Friday. Royal Caribbean Cruises has a 1-year minimum of $31.09 and a 1-year maximum of $98.27. The company has a debt ratio of 5.22, a current ratio of 0.30 and a quick ratio of 0.28. The company has a market capitalization of $13.71 billion, a price-earnings ratio of -3.06 and a beta of 2.40. The company has a 50-day moving average of $45.98 and a 200-day moving average of $48.20.

Institutional investors weigh in on Royal Caribbean cruises

Institutional investors have recently been buying and selling shares of the stock. CWM LLC increased its position in Royal Caribbean Cruises by 12.7% in the 1st quarter. CWM LLC now owns 6,242 shares of the company valued at $523,000 after purchasing an additional 704 shares in the last quarter. UMB Bank NA MO increased its stake in Royal Caribbean Cruises shares to 93.6% in Q1. UMB Bank NA MO now owns 4,959 shares of the company worth $415,000 after buying 2,398 additional shares in the last quarter. Truist Financial Corp increased its stake in shares of Royal Caribbean Cruises by 18.9% in Q1. Truist Financial Corp now owns 23,109 shares of the company worth $1,936,000 after buying 3,672 more shares in the last quarter. Ieq Capital LLC bought a new position in Royal Caribbean Cruises in Q1 worth $205,000. Finally, Robeco Institutional Asset Management BV increased its stake in Royal Caribbean Cruises by 411.3% during the first quarter. Robeco Institutional Asset Management BV now owns 6,509 shares in the company valued at US$545,000 after acquiring an additional 5,236 shares during the period. 67.41% of the shares are currently held by hedge funds and other institutional investors.

Royal Caribbean Cruises Company Profile

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Royal Caribbean Cruises Ltd. operates as a cruise line worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara and Silversea Cruises brands, which include a range of itineraries using approximately 1,000 destinations. As of February 25, 2022, it operated 61 vessels.

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