Carnival (CCL) Upgraded by Morgan Stanley to “Equal Weight”
Carnival (NYSE:CCL) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, The Fly reports.
A number of other research firms have also recently weighed in on CCL. UBS reiterated a “buy” rating and set a $76.00 price target (up from $67.00) on shares of Carnival in a report on Thursday, August 17th. Deutsche Bank reiterated a “hold” rating and set a $61.00 price target (down from $62.00) on shares of Carnival in a report on Wednesday, September 27th. Zacks Investment Research cut Carnival from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Argus reiterated a “neutral” rating and set a $67.00 price target (down from $78.00) on shares of Carnival in a report on Thursday, September 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $79.00 target price (up from $74.00) on shares of Carnival in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.71.
Shares of Carnival (NYSE CCL) opened at $65.94 on Wednesday. Carnival has a 52 week low of $50.77 and a 52 week high of $69.89. The stock has a market capitalization of $36,034.97, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.20 and a beta of 0.73. The company has a quick ratio of 0.16, a current ratio of 0.21 and a debt-to-equity ratio of 0.32.
In other news, CEO Arnold W. Donald sold 5,000 shares of Carnival stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $65.43, for a total value of $327,150.00. Following the completion of the transaction, the chief executive officer now owns 115,572 shares in the company, valued at approximately $7,561,875.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 100,903 shares of company stock valued at $6,782,771 in the last quarter. Company insiders own 23.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. AXA raised its position in shares of Carnival by 8.2% during the 3rd quarter. AXA now owns 183,604 shares of the company’s stock worth $11,855,000 after acquiring an additional 13,838 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Carnival by 40.8% during the 3rd quarter. GSA Capital Partners LLP now owns 7,504 shares of the company’s stock worth $485,000 after acquiring an additional 2,173 shares in the last quarter. IFM Investors Pty Ltd acquired a new stake in shares of Carnival during the 3rd quarter worth about $640,000. Yellowstone Partners LLC acquired a new stake in shares of Carnival during the 3rd quarter worth about $751,000. Finally, Afam Capital Inc. raised its position in shares of Carnival by 6.2% during the 3rd quarter. Afam Capital Inc. now owns 22,680 shares of the company’s stock worth $1,464,000 after acquiring an additional 1,334 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.
Carnival Company Profile
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
Receive News & Ratings for Carnival Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carnival Corporation and related companies with MarketBeat.com's FREE daily email newsletter.