The Priceline Group Inc. (NASDAQ:PCLN) has earned a consensus recommendation of “Buy” from the twenty-eight research firms that are presently covering the firm. Six investment analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $1,519.39.
Several equities research analysts have recently issued reports on the company. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of The Priceline Group in a report on Tuesday, June 21st. Jefferies Group reaffirmed a “buy” rating and issued a $1,700.00 target price on shares of The Priceline Group in a report on Tuesday, August 23rd. Deutsche Bank AG lifted their target price on The Priceline Group from $1,330.00 to $1,450.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Vetr cut The Priceline Group from a “hold” rating to a “sell” rating and set a $1,301.85 target price on the stock. in a report on Tuesday, June 21st. Finally, Zacks Investment Research cut The Priceline Group from a “buy” rating to a “hold” rating in a report on Wednesday.
In other news, CEO Gillian Tans sold 131 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $1,327.89, for a total transaction of $173,953.59. Following the transaction, the chief executive officer now directly owns 6,049 shares of the company’s stock, valued at $8,032,406.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffery H. Boyd sold 3,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $1,353.90, for a total value of $4,061,700.00. Following the completion of the transaction, the chief executive officer now directly owns 94,488 shares in the company, valued at $127,927,303.20. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PCLN. Capital World Investors increased its position in The Priceline Group by 38.0% in the second quarter. Capital World Investors now owns 1,235,836 shares of the company’s stock valued at $1,542,830,000 after buying an additional 340,386 shares during the last quarter. Lone Pine Capital LLC increased its position in The Priceline Group by 41.6% in the second quarter. Lone Pine Capital LLC now owns 1,120,758 shares of the company’s stock valued at $1,399,165,000 after buying an additional 329,121 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in The Priceline Group during the first quarter valued at about $251,864,000. Jennison Associates LLC increased its position in The Priceline Group by 21.2% in the second quarter. Jennison Associates LLC now owns 858,165 shares of the company’s stock valued at $1,071,342,000 after buying an additional 150,154 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its position in The Priceline Group by 73.6% in the second quarter. BlackRock Investment Management LLC now owns 216,593 shares of the company’s stock valued at $270,397,000 after buying an additional 91,819 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Priceline Group (NASDAQ:PCLN) traded up 0.61% during midday trading on Wednesday, reaching $1498.10. The company had a trading volume of 238,810 shares. The firm has a market capitalization of $74.05 billion, a price-to-earnings ratio of 28.49 and a beta of 1.62. The stock has a 50-day moving average of $1,440.14 and a 200 day moving average of $1,345.82. The Priceline Group has a 52 week low of $954.02 and a 52 week high of $1,501.47.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings data on Thursday, August 4th. The company reported $13.93 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $2.58 billion. During the same period in the previous year, the business earned $12.45 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. On average, analysts anticipate that The Priceline Group will post $68.57 earnings per share for the current year.
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.
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