Carnival (NYSE:CCL) had its target price raised by equities researchers at Barclays from $67.00 to $73.00 in a research report issued on Thursday. The brokerage presently has an “equal weight” rating on the stock. Barclays’ price objective indicates a potential upside of 7.83% from the company’s previous close.
A number of other analysts also recently weighed in on CCL. Zacks Investment Research downgraded shares of Carnival from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Credit Suisse Group downgraded shares of Carnival from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $70.00 in a research report on Friday, September 15th. Susquehanna Bancshares upped their target price on shares of Carnival from $75.00 to $76.00 and gave the stock a “positive” rating in a research report on Monday, September 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $79.00 target price (up from $74.00) on shares of Carnival in a research report on Wednesday, September 27th. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $61.00 target price (down from $62.00) on shares of Carnival in a research report on Wednesday, September 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $72.89.
Carnival (CCL) traded down $0.43 during trading hours on Thursday, hitting $67.70. 3,206,900 shares of the stock were exchanged, compared to its average volume of 3,180,739. The stock has a market cap of $36,506.50, a P/E ratio of 17.83, a PEG ratio of 1.23 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. Carnival has a 12-month low of $51.70 and a 12-month high of $69.89.
In related news, CEO Arnold W. Donald sold 5,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 100,903 shares of company stock worth $6,782,771 over the last three months. 23.80% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Carnival by 2.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,843,819 shares of the company’s stock worth $100,451,000 after purchasing an additional 43,330 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft bought a new position in shares of Carnival in the 3rd quarter worth approximately $7,358,000. Private Asset Management Inc. lifted its stake in shares of Carnival by 48.8% in the 3rd quarter. Private Asset Management Inc. now owns 11,000 shares of the company’s stock worth $537,000 after purchasing an additional 3,610 shares during the period. Janus Capital Management lifted its stake in shares of Carnival by 74.0% in the 3rd quarter. Janus Capital Management now owns 140,187 shares of the company’s stock worth $6,968,000 after purchasing an additional 59,632 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Carnival by 10.3% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 931,382 shares of the company’s stock worth $41,167,000 after purchasing an additional 86,829 shares during the period. 75.90% of the stock is currently owned by 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.
