Booking (NASDAQ:BKNG) Upgraded by TD Cowen to Strong-Buy Rating

TD Cowen upgraded shares of Booking (NASDAQ:BKNG) to a strong-buy rating in a report issued on Monday morning,Zacks reports.

BKNG has been the subject of a number of other research reports. Rosenblatt Securities assumed coverage on shares of Booking in a research note on Tuesday, September 1st. They set a “buy” rating and a $245.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and issued a $250.00 target price (up from $240.00) on shares of Booking in a report on Wednesday, August 5th. Argus upped their price target on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. DA Davidson set a $240.00 price target on shares of Booking in a research note on Thursday, August 6th. Finally, Wedbush lifted their price target on shares of Booking from $211.00 to $247.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.98.

Booking Stock Up 0.0%

Shares of Booking stock opened at $171.40 on Monday. Booking has a fifty-two week low of $150.14 and a fifty-two week high of $225.00. The business’s fifty day moving average is $193.58 and its two-hundred day moving average is $179.13. The firm has a market cap of $128.79 billion, a PE ratio of 18.97, a P/E/G ratio of 1.06 and a beta of 1.07.

Booking (NASDAQ:BKNG) last released its earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period in the prior year, the firm posted $55.40 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Booking will post 10.48 EPS for the current year.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a dividend yield of 1.0%. Booking’s dividend payout ratio is presently 18.58%.

Insider Buying and Selling at Booking

In related news, insider Paulo Pisano sold 3,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the completion of the sale, the insider directly owned 73,400 shares of the company’s stock, valued at approximately $14,935,432. This represents a 3.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the completion of the sale, the chief financial officer owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. This represents a 25.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 83,050 shares of company stock worth $17,182,274. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Booking

A number of large investors have recently modified their holdings of BKNG. Bogart Wealth LLC boosted its holdings in Booking by 3,475.0% in the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock worth $25,000 after acquiring an additional 139 shares during the period. Wilkerson Advisory Group LLC lifted its position in shares of Booking by 3,550.0% during the second quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock worth $26,000 after purchasing an additional 142 shares in the last quarter. Osbon Capital Management LLC acquired a new position in shares of Booking during the fourth quarter worth $27,000. First Financial Corp IN boosted its stake in shares of Booking by 2,400.0% in the second quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 144 shares during the period. Finally, Roble Belko & Company Inc grew its holdings in Booking by 2,400.0% during the 2nd quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

About Booking

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.