Carnival (CCL) Rating Reiterated by SunTrust Banks
Carnival (NYSE:CCL)‘s stock had its “buy” rating reiterated by equities researchers at SunTrust Banks in a note issued to investors on Tuesday, The Fly reports. They presently have a $84.00 target price on the stock, up from their prior target price of $72.00. SunTrust Banks’ target price would indicate a potential upside of 23.29% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities analysts have also issued research reports about the stock. Credit Suisse Group reissued a “neutral” rating on shares of Carnival in a report on Thursday, September 28th. Zacks Investment Research lowered shares of Carnival from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Deutsche Bank reaffirmed a “hold” rating and issued a $61.00 target price (down from $62.00) on shares of Carnival in a research note on Wednesday, September 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $79.00 target price (up from $74.00) on shares of Carnival in a research note on Wednesday, September 27th. Finally, Argus reaffirmed a “neutral” rating and issued a $67.00 target price (down from $78.00) on shares of Carnival in a research note on Thursday, September 28th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $70.95.
Carnival (CCL) opened at $68.13 on Tuesday. Carnival has a fifty-two week low of $51.38 and a fifty-two week high of $69.89. The stock has a market cap of $35,686.68, a price-to-earnings ratio of 17.25, a PEG ratio of 1.19 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.16.
In other Carnival news, CEO Arnold W. Donald sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $65.43, for a total transaction of $327,150.00. Following the sale, the chief executive officer now directly owns 115,572 shares of the company’s stock, valued at approximately $7,561,875.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 100,903 shares of company stock worth $6,782,771 over the last three months. Insiders own 23.80% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC lifted its position in Carnival by 14.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 811,948 shares of the company’s stock worth $52,427,000 after buying an additional 104,989 shares in the last quarter. AXA lifted its position in Carnival by 8.2% during the 3rd quarter. AXA now owns 183,604 shares of the company’s stock worth $11,855,000 after buying an additional 13,838 shares in the last quarter. GSA Capital Partners LLP lifted its position in Carnival by 40.8% during the 3rd quarter. GSA Capital Partners LLP now owns 7,504 shares of the company’s stock worth $485,000 after buying an additional 2,173 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in Carnival during the 3rd quarter worth about $640,000. Finally, Yellowstone Partners LLC bought a new stake in Carnival during the 3rd quarter worth about $751,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
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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