The Priceline Group Inc. (NASDAQ:PCLN) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday. They currently have a $1,598.32 target price on the stock. Vetr‘s price objective would suggest a potential upside of 8.51% from the company’s previous close.
A number of other equities analysts have also recently issued reports on PCLN. Cantor Fitzgerald restated a “buy” rating on shares of The Priceline Group in a report on Saturday, June 4th. Morgan Stanley upgraded The Priceline Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $1,330.00 to $1,525.00 in a report on Thursday, June 30th. Deutsche Bank AG restated a “hold” rating on shares of The Priceline Group in a report on Sunday, July 10th. Zacks Investment Research cut The Priceline Group from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, Barclays PLC restated an “overweight” rating and set a $1,550.00 target price on shares of The Priceline Group in a report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The Priceline Group currently has a consensus rating of “Buy” and a consensus price target of $1,525.14.
Shares of The Priceline Group (NASDAQ:PCLN) traded up 1.03% during midday trading on Thursday, hitting $1472.98. The company had a trading volume of 652,881 shares. The firm has a market capitalization of $72.80 billion, a P/E ratio of 28.02 and a beta of 1.69. The firm’s 50-day moving average is $1,433.48 and its 200-day moving average is $1,342.68. The Priceline Group has a 12-month low of $954.02 and a 12-month high of $1,481.78.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Thursday, August 4th. The company reported $13.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.69 by $1.24. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business earned $12.45 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that The Priceline Group will post $68.57 earnings per share for the current fiscal year.
In related news, CEO Gillian Tans sold 131 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $1,327.89, for a total value of $173,953.59. Following the completion of the sale, the chief executive officer now directly owns 6,049 shares in the company, valued at approximately $8,032,406.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffery H. Boyd sold 3,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $1,266.92, for a total value of $3,800,760.00. Following the completion of the sale, the chief executive officer now owns 98,039 shares of the company’s stock, valued at $124,207,569.88. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC increased its stake in The Priceline Group by 65.3% in the first quarter. BlueMountain Capital Management LLC now owns 81 shares of the company’s stock valued at $104,000 after buying an additional 32 shares during the period. Global X Management Co. LLC boosted its position in shares of The Priceline Group by 416.7% in the second quarter. Global X Management Co. LLC now owns 93 shares of the company’s stock valued at $116,000 after buying an additional 75 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in shares of The Priceline Group by 18.1% in the second quarter. Integrated Investment Consultants LLC now owns 98 shares of the company’s stock valued at $122,000 after buying an additional 15 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of The Priceline Group by 24.3% in the second quarter. Quadrant Capital Group LLC now owns 128 shares of the company’s stock valued at $151,000 after buying an additional 25 shares in the last quarter. Finally, Cupps Capital Management LLC bought a new position in shares of The Priceline Group during the second quarter valued at $157,000. Institutional investors and hedge funds own 93.99% of the company’s stock.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.
To view Vetr’s full report, visit Vetr’s official website.
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