JPMorgan Chase & Co. Raises Norwegian Cruise Line (NYSE:NCLH) Price Target to $30.00

Norwegian Cruise Line (NYSE:NCLH) had its target price hoisted by JPMorgan Chase & Co. from $29.00 to $30.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on NCLH. Macquarie upped their target price on Norwegian Cruise Line from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial upped their price objective on shares of Norwegian Cruise Line from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Barclays raised shares of Norwegian Cruise Line from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $32.00 in a research report on Friday, December 13th. Tigress Financial raised their price target on shares of Norwegian Cruise Line from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus lifted their price target on Norwegian Cruise Line from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Norwegian Cruise Line presently has an average rating of “Moderate Buy” and an average price target of $29.27.

Norwegian Cruise Line Stock Performance

NYSE:NCLH opened at $25.41 on Tuesday. The firm has a market capitalization of $11.17 billion, a P/E ratio of 23.31, a P/E/G ratio of 0.30 and a beta of 2.65. Norwegian Cruise Line has a twelve month low of $14.69 and a twelve month high of $28.64. The company has a fifty day moving average of $25.89 and a 200-day moving average of $20.92. The company has a quick ratio of 0.17, a current ratio of 0.20 and a debt-to-equity ratio of 10.35.

Norwegian Cruise Line (NYSE:NCLH) last announced 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. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.77 billion. Norwegian Cruise Line had a net margin of 5.87% and a return on equity of 99.31%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, sell-side analysts anticipate that Norwegian Cruise Line will post 1.51 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Norwegian Cruise Line

Several institutional investors have recently bought and sold shares of NCLH. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Norwegian Cruise Line by 326.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 44,236 shares of the company’s stock valued at $831,000 after buying an additional 33,866 shares during the last quarter. Raymond James & Associates boosted its position in Norwegian Cruise Line by 1.2% during the second quarter. Raymond James & Associates now owns 92,813 shares of the company’s stock worth $1,744,000 after purchasing an additional 1,089 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Norwegian Cruise Line by 2.7% in the second quarter. Nisa Investment Advisors LLC now owns 88,636 shares of the company’s stock worth $1,665,000 after purchasing an additional 2,353 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Norwegian Cruise Line by 5.6% in the second quarter. Fifth Third Bancorp now owns 42,301 shares of the company’s stock valued at $795,000 after purchasing an additional 2,262 shares during the period. Finally, U S Global Investors Inc. purchased a new stake in shares of Norwegian Cruise Line during the 2nd quarter valued at approximately $1,109,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Norwegian Cruise Line Company Profile

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.