Norwegian Cruise Line (NASDAQ:NCLH) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Norwegian Cruise Line (NASDAQ:NCLH) from a hold rating to a buy rating in a research note released on Thursday morning, BidAskClub reports.

A number of other analysts also recently weighed in on the company. Argus set a $68.00 price objective on Norwegian Cruise Line and gave the company a buy rating in a report on Wednesday, September 4th. SunTrust Banks increased their price objective on Norwegian Cruise Line from $71.00 to $72.00 and gave the company a buy rating in a report on Friday, August 9th. TheStreet upgraded Norwegian Cruise Line from a c+ rating to a b rating in a report on Friday, September 6th. Bank of America restated a buy rating and issued a $66.00 price objective (down from $72.00) on shares of Norwegian Cruise Line in a report on Friday, August 9th. Finally, Nomura restated a buy rating and issued a $64.00 price objective on shares of Norwegian Cruise Line in a report on Sunday, August 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $65.20.

Shares of NASDAQ:NCLH traded up $0.26 during trading on Thursday, hitting $54.68. 1,547,397 shares of the company were exchanged, compared to its average volume of 2,165,628. The business’s 50 day moving average is $49.94 and its 200-day moving average is $53.53. Norwegian Cruise Line has a 1-year low of $39.36 and a 1-year high of $59.71.

Norwegian Cruise Line (NASDAQ:NCLH) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $1.21 earnings per share.

In other Norwegian Cruise Line news, CEO Andrew Stuart sold 25,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $50.01, for a total transaction of $1,250,250.00. Following the sale, the chief executive officer now owns 356,873 shares of the company’s stock, valued at $17,847,218.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rio Frank J. Del sold 3,076 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $53.75, for a total transaction of $165,335.00. Following the sale, the chief executive officer now directly owns 450,494 shares in the company, valued at approximately $24,214,052.50. The disclosure for this sale can be found here. Insiders have sold 63,119 shares of company stock worth $3,241,441 in the last ninety days. Insiders own 0.98% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Norwegian Cruise Line by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 2,958,211 shares of the company’s stock valued at $125,188,000 after acquiring an additional 416,956 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Norwegian Cruise Line in the 1st quarter valued at about $243,000. First Republic Investment Management Inc. lifted its position in Norwegian Cruise Line by 15.6% in the 1st quarter. First Republic Investment Management Inc. now owns 5,971 shares of the company’s stock valued at $328,000 after acquiring an additional 805 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Norwegian Cruise Line by 2.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 269,231 shares of the company’s stock valued at $14,797,000 after acquiring an additional 6,910 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its position in Norwegian Cruise Line by 9.2% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 17,673 shares of the company’s stock valued at $971,000 after acquiring an additional 1,489 shares in the last quarter. 88.85% of the stock is currently owned by institutional investors and hedge funds.

Norwegian Cruise Line Company Profile

Norwegian Cruise Line Holdings Ltd. (NCLH) is a global cruise company. The Company operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. The Company had 25 ships with approximately 50,400 Berths, as of May 1, 2017. The Company’s brands offer itineraries to various destinations around the world, including Europe, Asia, Australia, New Zealand, South America, Africa, Canada, Bermuda, Caribbean, Alaska and Hawaii.

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