JPMorgan Chase & Co. Upgrades Norwegian Cruise Line (NYSE:NCLH) to Overweight

Norwegian Cruise Line (NYSE:NCLH) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $30.00 price target on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 57.16% from the stock’s current price.

A number of other brokerages have also weighed in on NCLH. Wells Fargo & Company lifted their price objective on Norwegian Cruise Line from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Citigroup lifted their price objective on Norwegian Cruise Line from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Truist Financial raised their target price on Norwegian Cruise Line from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Macquarie raised their target price on Norwegian Cruise Line from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Finally, Bank of America lowered their target price on Norwegian Cruise Line from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.19.

Norwegian Cruise Line Price Performance

Shares of NCLH stock opened at $19.09 on Monday. The firm has a market cap of $8.40 billion, a P/E ratio of 17.51, a P/E/G ratio of 0.24 and a beta of 2.62. Norwegian Cruise Line has a fifty-two week low of $14.69 and a fifty-two week high of $29.29. The business’s 50 day moving average price is $24.84 and its 200-day moving average price is $24.26. The company has a debt-to-equity ratio of 10.35, a quick ratio of 0.17 and a current ratio of 0.20.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NCLH. Capital International Investors raised its stake in shares of Norwegian Cruise Line by 11.2% in the fourth quarter. Capital International Investors now owns 55,194,672 shares of the company’s stock worth $1,420,159,000 after purchasing an additional 5,557,951 shares during the last quarter. Norges Bank purchased a new position in shares of Norwegian Cruise Line in the fourth quarter worth $113,156,000. Two Sigma Advisers LP raised its stake in shares of Norwegian Cruise Line by 99.0% in the fourth quarter. Two Sigma Advisers LP now owns 7,689,200 shares of the company’s stock worth $197,843,000 after purchasing an additional 3,824,600 shares during the last quarter. Voloridge Investment Management LLC raised its stake in shares of Norwegian Cruise Line by 3,403.3% in the fourth quarter. Voloridge Investment Management LLC now owns 3,374,576 shares of the company’s stock worth $86,828,000 after purchasing an additional 3,278,249 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Norwegian Cruise Line by 113.1% in the fourth quarter. Renaissance Technologies LLC now owns 5,577,231 shares of the company’s stock worth $143,502,000 after purchasing an additional 2,959,631 shares during the last quarter. 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.