Carnival (NYSE:CCL) had its price target lifted by analysts at Morgan Stanley from $68.00 to $70.00 in a research note issued on Friday. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 0.07% from the company’s previous close.
Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Carnival from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research downgraded shares of Carnival from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Stifel Nicolaus boosted their price target on shares of Carnival from $79.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Credit Suisse Group boosted their price target on shares of Carnival from $78.10 to $79.50 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Buckingham Research reissued a “buy” rating and set a $84.00 price target (up previously from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Carnival currently has a consensus rating of “Buy” and an average target price of $73.45.
Carnival (NYSE CCL) traded down $1.16 during mid-day trading on Friday, reaching $69.95. 2,577,349 shares of the company’s stock traded hands, compared to its average volume of 3,250,000. The company has a current ratio of 0.18, a quick ratio of 0.14 and a debt-to-equity ratio of 0.29. Carnival has a 12-month low of $54.75 and a 12-month high of $72.70. The company has a market capitalization of $50,070.00, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75.
In other Carnival news, CEO Stein Kruse sold 60,665 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total value of $4,039,682.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arnold W. Donald sold 6,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $68.00, for a total transaction of $408,000.00. Following the completion of the sale, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at $7,858,896. The disclosure for this sale can be found here. Insiders sold 305,627 shares of company stock valued at $20,486,367 in the last ninety days. Corporate insiders own 23.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nicolet Bankshares Inc. acquired a new stake in Carnival in the 4th quarter valued at about $279,000. Signature Estate & Investment Advisors LLC lifted its holdings in Carnival by 5.0% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 259,085 shares of the company’s stock valued at $17,195,000 after acquiring an additional 12,281 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Carnival by 5.5% in the 4th quarter. Raymond James Trust N.A. now owns 39,396 shares of the company’s stock valued at $2,615,000 after acquiring an additional 2,059 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Carnival by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 44,600 shares of the company’s stock valued at $2,960,000 after acquiring an additional 1,378 shares during the last quarter. Finally, Everence Capital Management Inc. lifted its holdings in Carnival by 21.2% in the 4th quarter. Everence Capital Management Inc. now owns 10,174 shares of the company’s stock valued at $675,000 after acquiring an additional 1,781 shares during the last quarter. 76.06% of the stock is owned by institutional investors.
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About Carnival
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.
