Wells Fargo & Co Boosts Carnival (CCL) Price Target to $80.00
Carnival (NYSE:CCL) had its target price raised by equities research analysts at Wells Fargo & Co from $77.00 to $80.00 in a report issued on Monday. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co’s price target points to a potential upside of 14.96% from the stock’s current price.
Several other equities research analysts also recently weighed in on CCL. Morgan Stanley increased their price objective on Carnival from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. ValuEngine raised Carnival from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Credit Suisse Group increased their price objective on Carnival from $78.10 to $79.50 and gave the company an “outperform” rating in a report on Thursday, January 25th. Deutsche Bank increased their price objective on Carnival to $70.00 and gave the company a “hold” rating in a report on Wednesday, December 20th. Finally, Buckingham Research reissued a “buy” rating and issued a $84.00 price objective (up from $80.00) on shares of Carnival in a report on Wednesday, December 20th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $73.82.
Shares of Carnival (NYSE:CCL) traded down $0.33 on Monday, reaching $69.59. The company had a trading volume of 1,769,205 shares, compared to its average volume of 3,325,902. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.18 and a quick ratio of 0.14. The firm has a market capitalization of $49,520.00, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.15 and a beta of 0.75. Carnival has a 52-week low of $54.75 and a 52-week high of $72.70.
In other news, CEO Arnold W. Donald sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $65.57, for a total transaction of $327,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stein Kruse sold 60,665 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $66.59, for a total value of $4,039,682.35. The disclosure for this sale can be found here. Insiders have sold 336,364 shares of company stock valued at $22,622,361 in the last 90 days. Company insiders own 23.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new position in Carnival in the fourth quarter worth $123,000. Grove Bank & Trust raised its position in Carnival by 367.8% in the third quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock worth $131,000 after acquiring an additional 1,600 shares in the last quarter. Focused Wealth Management Inc purchased a new position in Carnival in the fourth quarter worth $133,000. Avestar Capital LLC purchased a new position in Carnival in the fourth quarter worth $148,000. Finally, Delpha Capital Management LLC purchased a new position in Carnival in the fourth quarter worth $173,000. Institutional investors and hedge funds own 75.07% of the company’s stock.
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.
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