5 Best Travel Stocks To Buy Right Now

4. Royal Caribbean Cruises Ltd. (NYSE:RCL)

Number of Hedge Fund Holders: 45

Royal Caribbean Cruises Ltd. (NYSE:RCL) is one of the top cruise operators in the world that operates three famous cruise brands, Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.

Royal Caribbean Cruises Ltd. (NYSE:RCL) is one of the best travel stocks to buy. On October 27, Barclays increased the price target on the stock to $132 from $127 and maintained an Overweight rating, highlighting the company’s increased booking and “management’s new base case for 2024 earnings”.

On October 26, Royal Caribbean Cruises Ltd. (NYSE:RCL) released its Q3 earnings result in which it posted a non-GAAP EPS of $3.85, topping the estimates by $0.46. The company’s revenue jumped 40.5% YoY to $4.2 billion and exceeded the estimates by $140 million.

Royal Caribbean Cruises Ltd. (NYSE:RCL) was mentioned in Ariel Investments’ second-quarter 2023 investor letter. Here is what it said:

“Several stocks in the portfolio had strong returns over the period. Global cruise vacation company, Royal Caribbean Cruises Ltd. (NYSE:RCL), was one of the top 3 performers in the S&P 500 during the quarter. Shares surged following a significant top- and bottom-line earnings beat, as stronger than anticipated consumer demand is driving a record WAVE season. Forward booking trends are also ahead of historical ranges at record pricing. These factors combined with further improvement in onboard spend and solid cost containment led management to increase RCL’s full-year 2023 guidance. We believe the revised revenue and earnings outlook lays the foundation for RCL to exceed its’ three-year strategic imperative, the Trifecta Program.”