Norwegian Cruise Line (NYSE:NCLH) Shares Gap Down on Analyst Downgrade

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) shares gapped down prior to trading on Friday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. The stock had previously closed at $23.25, but opened at $21.98. JPMorgan Chase & Co. now has a $20.00 price target on the stock. Norwegian Cruise Line shares last traded at $22.2780, with a volume of 9,958,821 shares.

A number of other brokerages have also recently commented on NCLH. TD Cowen reissued a “buy” rating on shares of Norwegian Cruise Line in a research report on Tuesday, January 13th. Susquehanna dropped their target price on Norwegian Cruise Line from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Barclays cut Norwegian Cruise Line from an “overweight” rating to an “equal weight” rating and set a $23.00 target price on the stock. in a research note on Wednesday. Wells Fargo & Company raised their price target on Norwegian Cruise Line from $29.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Finally, Zacks Research cut shares of Norwegian Cruise Line from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Norwegian Cruise Line presently has a consensus rating of “Moderate Buy” and an average price target of $26.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MUFG Securities EMEA plc bought a new stake in shares of Norwegian Cruise Line in the second quarter worth $26,000. Sentry Investment Management LLC bought a new position in shares of Norwegian Cruise Line in the second quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Norwegian Cruise Line in the 4th quarter worth $31,000. Clearstead Advisors LLC grew its position in shares of Norwegian Cruise Line by 130.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,607 shares of the company’s stock worth $36,000 after purchasing an additional 909 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its position in shares of Norwegian Cruise Line by 1,928.0% during the second quarter. Laurel Wealth Advisors LLC now owns 2,028 shares of the company’s stock valued at $41,000 after buying an additional 1,928 shares during the last quarter. 69.58% of the stock is owned by institutional investors.

Norwegian Cruise Line Stock Performance

The company has a debt-to-equity ratio of 6.22, a quick ratio of 0.17 and a current ratio of 0.19. The business’s fifty day simple moving average is $22.19 and its 200-day simple moving average is $22.66. The company has a market capitalization of $10.05 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.57 and a beta of 2.06.

Norwegian Cruise Line Company Profile

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a global cruise operator offering a portfolio of premium brands that includes Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The company provides sea voyages and related onboard services such as dining, entertainment, shore excursions and destination experiences. Its fleet of modern vessels sails to more than 400 destinations across all seven continents, serving leisure travelers with itineraries ranging from short Caribbean getaways to extended world voyages.

Founded in 1966 by Knut Kloster and Ted Arison, the company pioneered the concept of “Freestyle Cruising,” which allows passengers greater flexibility in dining schedules, entertainment choices and onboard activities.