Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price shot up 1.8% during mid-day trading on Wednesday . The stock traded as high as $70.59 and last traded at $70.20, with a volume of 1,450,568 shares changing hands. The stock had previously closed at $68.98.

Several brokerages have recently issued reports on RCL. Tigress Financial upgraded Royal Caribbean Cruises to a “buy” rating in a research note on Tuesday, May 31st. Credit Suisse Group AG reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Tuesday, May 24th. SunTrust Banks Inc. decreased their price target on Royal Caribbean Cruises from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, May 2nd. Zacks Investment Research lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Vetr upgraded Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating and set a $84.42 price target on the stock in a research note on Monday, April 25th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $94.63.

The firm has a 50-day moving average price of $70.97 and a 200-day moving average price of $74.77. The stock has a market cap of $15.04 billion and a price-to-earnings ratio of 19.94.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, August 2nd. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the company earned $0.84 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Royal Caribbean Cruises Ltd. will post $6.08 earnings per share for the current year.

In related news, CEO Richard D. Fain acquired 29,190 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average cost of $68.52 per share, with a total value of $2,000,098.80. Following the completion of the purchase, the chief executive officer now owns 1,068,881 shares of the company’s stock, valued at $73,239,726.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Lisa Lutoff-Perlo sold 6,790 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $74.46, for a total value of $505,583.40. Following the transaction, the chief executive officer now directly owns 34,450 shares in the company, valued at $2,565,147. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Royal Caribbean Cruises by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,211 shares of the company’s stock worth $1,135,000 after buying an additional 188 shares during the period. Suntrust Banks Inc. boosted its position in shares of Royal Caribbean Cruises by 71.3% in the fourth quarter. Suntrust Banks Inc. now owns 13,742 shares of the company’s stock worth $1,390,000 after buying an additional 5,720 shares during the period. Employees Retirement System of Texas boosted its position in shares of Royal Caribbean Cruises by 15.4% in the fourth quarter. Employees Retirement System of Texas now owns 15,000 shares of the company’s stock worth $1,518,000 after buying an additional 2,000 shares during the period. Advantus Capital Management Inc boosted its position in shares of Royal Caribbean Cruises by 3.4% in the fourth quarter. Advantus Capital Management Inc now owns 16,592 shares of the company’s stock worth $1,679,000 after buying an additional 541 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of Royal Caribbean Cruises by 6.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 23,334 shares of the company’s stock worth $2,362,000 after buying an additional 1,313 shares during the period.

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.