Carnival (NYSE:CCL) had its price objective upped by research analysts at Stifel Nicolaus from $79.00 to $80.00 in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 17.42% from the company’s current price.
A number of other research firms have also recently commented on CCL. Zacks Investment Research raised shares of Carnival from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Tuesday, September 5th. Credit Suisse Group cut shares of Carnival from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $78.00 to $70.00 in a research report on Friday, September 15th. SunTrust Banks reaffirmed a “buy” rating and set a $84.00 price objective (up from $72.00) on shares of Carnival in a research report on Tuesday. They noted that the move was a valuation call. Finally, Morgan Stanley raised shares of Carnival from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $65.94 to $68.00 in a research report on Wednesday, December 6th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $71.01.
Carnival (CCL) traded up $1.53 during mid-day trading on Wednesday, reaching $68.13. 6,814,400 shares of the company’s stock were exchanged, compared to its average volume of 3,180,632. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.16 and a current ratio of 0.21. Carnival has a 1 year low of $51.38 and a 1 year high of $69.89. The company has a market capitalization of $35,686.68, a PE ratio of 17.25, a price-to-earnings-growth ratio of 1.19 and a beta of 0.73.
In other news, CEO Arnold W. Donald sold 90,903 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $67.41, for a total value of $6,127,771.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $65.57, for a total value of $327,850.00. The disclosure for this sale can be found here. In the last three months, insiders sold 100,903 shares of company stock valued at $6,782,771. 23.80% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Almanack Investment Partners LLC. acquired a new position in Carnival in the second quarter valued at about $117,000. Grove Bank & Trust raised its stake in Carnival by 367.8% in the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after purchasing an additional 1,600 shares in the last quarter. Bessemer Group Inc. raised its stake in Carnival by 109.4% in the second quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after purchasing an additional 1,368 shares in the last quarter. Smithfield Trust Co. raised its stake in Carnival by 826.2% in the third quarter. Smithfield Trust Co. now owns 2,825 shares of the company’s stock valued at $182,000 after purchasing an additional 2,520 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its stake in Carnival by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,926 shares of the company’s stock valued at $191,000 after purchasing an additional 40 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
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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.
