Royal Caribbean Cruises (NYSE:RCL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $142.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 9.05% from the company’s current price.

According to Zacks, “Royal Caribbean is currently benefiting from strong booking trends and capacity growth along with its profitability initiatives. The company’s shares have outpaced the industry on a year to date basis. Going forward, we are particularly positive on the company’s new three-year program — 20/20 Vision — designed to drive performance. It leverages the culture and the discipline instilled by Double-Double program while including a broader set of goals. The company’s sailings are likely to continue performing strongly in the long term, given strong bookings trends. However, higher costs might hurt the company’s profitability. Further, lingering global uncertainties in key operating regions along with negative currency translation remain concerns. Estimate revisions for 2018 earnings have been stable over the last 60 days.”

Several other brokerages have also recently weighed in on RCL. SunTrust Banks lifted their price objective on shares of Royal Caribbean Cruises to $149.00 and gave the stock a “buy” rating in a research note on Wednesday. Berenberg Bank upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Buckingham Research lifted their price objective on shares of Royal Caribbean Cruises from $149.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $134.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, Argus lifted their price objective on shares of Royal Caribbean Cruises from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $128.54.

Royal Caribbean Cruises (RCL) traded up $3.46 during midday trading on Wednesday, hitting $130.21. 1,750,000 shares of the stock were exchanged, compared to its average volume of 1,280,000. The company has a current ratio of 0.16, a quick ratio of 0.13 and a debt-to-equity ratio of 0.58. The firm has a market cap of $27,880.00, a PE ratio of 17.38, a PEG ratio of 0.66 and a beta of 1.06. Royal Caribbean Cruises has a one year low of $84.03 and a one year high of $133.75.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, November 7th. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.06. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Royal Caribbean Cruises had a net margin of 18.41% and a return on equity of 16.64%. Royal Caribbean Cruises’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $3.20 EPS. equities analysts anticipate that Royal Caribbean Cruises will post 7.39 EPS for the current fiscal year.

In other news, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $123.00, for a total value of $2,460,000.00. Following the completion of the transaction, the chief executive officer now directly owns 847,741 shares in the company, valued at approximately $104,272,143. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 60,000 shares of company stock valued at $7,497,200 over the last 90 days. Corporate insiders own 15.30% of the company’s stock.

Several large investors have recently modified their holdings of RCL. Neuberger Berman Group LLC raised its position in shares of Royal Caribbean Cruises by 1.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,458 shares of the company’s stock valued at $268,000 after buying an additional 28 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Royal Caribbean Cruises by 9.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,334 shares of the company’s stock valued at $146,000 after purchasing an additional 119 shares during the last quarter. Martingale Asset Management L P grew its holdings in shares of Royal Caribbean Cruises by 226.9% during the 2nd quarter. Martingale Asset Management L P now owns 6,927 shares of the company’s stock valued at $757,000 after purchasing an additional 4,808 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Royal Caribbean Cruises by 11.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 386,094 shares of the company’s stock valued at $42,173,000 after purchasing an additional 39,564 shares during the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 24.1% during the 2nd quarter. Profund Advisors LLC now owns 5,898 shares of the company’s stock valued at $644,000 after purchasing an additional 1,146 shares during the last quarter. Institutional investors own 73.23% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was first published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/01/17/royal-caribbean-cruises-rcl-raised-to-buy-at-zacks-investment-research.html.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).

Get a free copy of the Zacks research report on Royal Caribbean Cruises (RCL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Royal Caribbean Cruises (NYSE:RCL)

Receive News & Ratings for Royal Caribbean Cruises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises and related companies with MarketBeat.com's FREE daily email newsletter.