Credit Suisse Group Lowers Royal Caribbean Cruises (NYSE:RCL) Price Target to $117.00

Royal Caribbean Cruises (NYSE:RCLGet Rating) had its price objective lowered by Credit Suisse Group from $135.00 to $117.00 in a research report released on Friday, MarketBeat Ratings reports. Credit Suisse Group currently has an outperform rating on the stock.

A number of other research firms also recently issued reports on RCL. Truist Financial decreased their price objective on Royal Caribbean Cruises from $65.00 to $58.00 and set a hold rating for the company in a report on Tuesday, September 20th. UBS Group decreased their price target on Royal Caribbean Cruises from $65.00 to $56.00 and set a buy rating for the company in a research note on Wednesday, October 12th. Tigress Financial restated a buy rating and issued a $80.00 price target on shares of Royal Caribbean Cruises in a research note on Friday, October 21st. Susquehanna decreased their price target on Royal Caribbean Cruises from $70.00 to $50.00 in a research note on Friday, July 29th. Finally, Susquehanna Bancshares decreased their price target on Royal Caribbean Cruises from $70.00 to $50.00 in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of Moderate Buy and an average target price of $67.54.

Royal Caribbean Cruises Stock Down 4.9 %

NYSE:RCL opened at $52.01 on Friday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.28 and a current ratio of 0.29. The company has a market cap of $13.27 billion, a PE ratio of -4.40 and a beta of 2.40. Royal Caribbean Cruises has a 52-week low of $31.09 and a 52-week high of $98.27. The stock has a 50-day simple moving average of $46.42 and a 200 day simple moving average of $47.28.

Institutional Trading of Royal Caribbean Cruises

Several hedge funds have recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in Royal Caribbean Cruises by 5.6% during the 1st quarter. Capital International Investors now owns 28,886,916 shares of the company’s stock worth $2,419,663,000 after purchasing an additional 1,524,412 shares during the last quarter. Vanguard Group Inc. raised its holdings in Royal Caribbean Cruises by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,355,449 shares of the company’s stock valued at $1,956,721,000 after acquiring an additional 314,385 shares in the last quarter. Primecap Management Co. CA raised its holdings in Royal Caribbean Cruises by 4.0% in the 2nd quarter. Primecap Management Co. CA now owns 5,221,461 shares of the company’s stock valued at $182,281,000 after acquiring an additional 201,750 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Royal Caribbean Cruises by 31.8% in the 1st quarter. Neuberger Berman Group LLC now owns 3,232,746 shares of the company’s stock valued at $270,748,000 after acquiring an additional 779,704 shares in the last quarter. Finally, Capital World Investors raised its holdings in Royal Caribbean Cruises by 1,314.9% in the 1st quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock valued at $231,152,000 after acquiring an additional 2,564,035 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

About Royal Caribbean Cruises

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

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