Norwegian Cruise Line (NYSE:NCLH) Price Target Raised to $29.00

Norwegian Cruise Line (NYSE:NCLH) had its target price upped by Bank of America from $26.00 to $29.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Norwegian Cruise Line from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Susquehanna lifted their price objective on shares of Norwegian Cruise Line from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Barclays raised their price objective on shares of Norwegian Cruise Line from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Citigroup raised Norwegian Cruise Line from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $30.00 in a research note on Wednesday, October 9th. Finally, Argus upgraded Norwegian Cruise Line from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Norwegian Cruise Line has a consensus rating of “Hold” and a consensus price target of $27.60.

Norwegian Cruise Line Trading Down 1.0 %

NCLH opened at $26.42 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.20 and a debt-to-equity ratio of 10.35. The stock’s fifty day moving average is $22.73 and its two-hundred day moving average is $19.17. The company has a market capitalization of $11.62 billion, a P/E ratio of 24.24, a PEG ratio of 0.27 and a beta of 2.67. Norwegian Cruise Line has a 52 week low of $14.13 and a 52 week high of $28.11.

Norwegian Cruise Line (NYSE:NCLH) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.05. Norwegian Cruise Line had a return on equity of 99.31% and a net margin of 5.87%. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts forecast that Norwegian Cruise Line will post 1.64 earnings per share for the current year.

Insider Buying and Selling

In other Norwegian Cruise Line news, insider Andrea Demarco sold 29,000 shares of Norwegian Cruise Line stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.76, for a total value of $805,040.00. Following the completion of the transaction, the insider now owns 97,304 shares of the company’s stock, valued at $2,701,159.04. The trade was a 22.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Faye L. Ashby sold 38,344 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $27.30, for a total transaction of $1,046,791.20. Following the completion of the transaction, the chief accounting officer now owns 116,270 shares in the company, valued at approximately $3,174,171. The trade was a 24.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,344 shares of company stock valued at $2,269,731. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Norwegian Cruise Line

Several institutional investors and hedge funds have recently bought and sold shares of the business. Prestige Wealth Management Group LLC grew its stake in Norwegian Cruise Line by 192.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,216 shares of the company’s stock worth $25,000 after buying an additional 800 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Norwegian Cruise Line in the 1st quarter worth approximately $27,000. Avior Wealth Management LLC increased its position in Norwegian Cruise Line by 34.1% in the 3rd quarter. Avior Wealth Management LLC now owns 1,686 shares of the company’s stock valued at $35,000 after acquiring an additional 429 shares during the period. Sentry Investment Management LLC bought a new stake in Norwegian Cruise Line during the 2nd quarter valued at $39,000. Finally, Blue Trust Inc. boosted its position in Norwegian Cruise Line by 489.8% during the 3rd quarter. Blue Trust Inc. now owns 2,188 shares of the company’s stock worth $41,000 after acquiring an additional 1,817 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

About Norwegian Cruise Line

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates through the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various ports, including Scandinavia, Northern Europe, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean.