Why Royal Caribbean Group Shares Are Getting Hammered Today

Royal Caribbean Cruises Ltd RCL shares are trading lower by 8.72% to $36.64 Wednesday morning. Shares of cruise line operators are falling sharply during Wednesday's trading session amid a series of analyst rating updates and price target adjustments.

Barclays analyst Brandt Montour initiated coverage on Royal Caribbean Group with an Overweight rating and announced a price target of $56.

Peer cruise line operator Carnival Corp CCL shares are trading lower after Morgan Stanley maintained the stock with an Underweight rating and lowered its price target from $13 to $7... Read More

For Carnival, Morgan Stanley cited weaker occupancies and pricing, as well as elevated costs.

Royal Caribbean Group is the world's second-largest cruise company.

According to data from Benzinga Pro, Royal Caribbean Group has a 52-week high of $98.27 and a 52-week low of $34.10.

Posted In: why it's movingMoversTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.