Carnival (NYSE:CCL) had its price target lifted by stock analysts at Deutsche Bank to $70.00 in a research note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank’s target price indicates a potential upside of 2.74% from the stock’s current price.
A number of other research firms have also recently weighed in on CCL. Zacks Investment Research upgraded Carnival from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Tuesday, September 5th. Credit Suisse Group cut Carnival from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $78.00 to $70.00 in a research note on Friday, September 15th. Stifel Nicolaus increased their price target on Carnival from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. Buckingham Research restated a “buy” rating and issued a $84.00 price target (up previously from $80.00) on shares of Carnival in a research note on Wednesday. Finally, SunTrust Banks restated a “buy” rating and issued a $84.00 price target (up previously from $72.00) on shares of Carnival in a research note on Tuesday. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Carnival currently has a consensus rating of “Buy” and an average target price of $72.31.
Carnival (NYSE:CCL) traded up $1.53 on Wednesday, reaching $68.13. The company had a trading volume of 6,814,400 shares, compared to its average volume of 3,180,632. Carnival has a twelve month low of $51.38 and a twelve month high of $69.89. The company has a current ratio of 0.21, a quick ratio of 0.16 and a debt-to-equity ratio of 0.32. The company has a market cap of $35,686.68, a PE ratio of 17.25, a PEG ratio of 1.19 and a beta of 0.73.
In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $65.43, for a total value of $327,150.00. Following the transaction, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at approximately $7,561,875.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 100,903 shares of company stock worth $6,782,771. Insiders own 23.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Carnival by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 28,919,554 shares of the company’s stock worth $1,896,255,000 after purchasing an additional 934,311 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Carnival by 2.0% during the 2nd quarter. BlackRock Inc. now owns 28,469,248 shares of the company’s stock worth $1,866,728,000 after purchasing an additional 550,116 shares in the last quarter. Investec Asset Management LTD grew its holdings in shares of Carnival by 6.5% during the 2nd quarter. Investec Asset Management LTD now owns 4,961,591 shares of the company’s stock worth $325,332,000 after purchasing an additional 303,161 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Carnival by 316.9% during the 2nd quarter. Alliancebernstein L.P. now owns 4,236,266 shares of the company’s stock worth $277,772,000 after purchasing an additional 3,220,191 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Carnival by 14.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,525,084 shares of the company’s stock worth $227,614,000 after purchasing an additional 436,941 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
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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.
