TripAdvisor (NASDAQ:TRIP) Stock Price Target Lowered at Barclays

TripAdvisor (NASDAQ:TRIP) had its price target trimmed by Barclays from $9.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an underweight rating on the travel company’s stock.

Several other analysts also recently issued reports on the company. BTIG Research downgraded TripAdvisor from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “sell (d)” rating on shares of TripAdvisor in a research note on Wednesday, August 12th. JPMorgan Chase & Co. cut their price objective on shares of TripAdvisor from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Cantor Fitzgerald reduced their price objective on shares of TripAdvisor from $8.00 to $6.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 price objective on shares of TripAdvisor in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $12.71.

TripAdvisor Price Performance

TRIP stock traded down $0.38 during trading on Friday, reaching $7.00. The company’s stock had a trading volume of 13,153,330 shares, compared to its average volume of 3,013,375. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.28. The company’s fifty day moving average is $8.94 and its 200-day moving average is $10.91. The company has a market capitalization of $820.40 million, a P/E ratio of -2.27, a price-to-earnings-growth ratio of 3.80 and a beta of 0.87. TripAdvisor has a 1 year low of $6.95 and a 1 year high of $16.04.

TripAdvisor (NASDAQ:TRIP) last announced its quarterly earnings data on Thursday, November 5th. The travel company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.06). The business had revenue of $436.40 million during the quarter, compared to analysts’ expectations of $447.39 million. TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. TripAdvisor’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, research analysts expect that TripAdvisor will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Almir Ambeskovic sold 8,000 shares of TripAdvisor stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $9.45, for a total value of $75,600.00. Following the sale, the chief executive officer directly owned 30,456 shares of the company’s stock, valued at approximately $287,809.20. The trade was a 20.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On TripAdvisor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System grew its position in TripAdvisor by 50.4% in the third quarter. Maryland State Retirement & Pension System now owns 25,509 shares of the travel company’s stock worth $214,000 after acquiring an additional 8,551 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in TripAdvisor in the third quarter worth $239,000. Illinois Municipal Retirement Fund boosted its stake in TripAdvisor by 10.7% during the third quarter. Illinois Municipal Retirement Fund now owns 64,367 shares of the travel company’s stock worth $539,000 after buying an additional 6,214 shares during the period. Ballast Asset Management LP boosted its stake in TripAdvisor by 69.0% during the third quarter. Ballast Asset Management LP now owns 307,025 shares of the travel company’s stock worth $2,570,000 after buying an additional 125,380 shares during the period. Finally, Hennessy Advisors Inc. boosted its stake in TripAdvisor by 108.9% during the third quarter. Hennessy Advisors Inc. now owns 23,062 shares of the travel company’s stock worth $193,000 after buying an additional 12,021 shares during the period. 98.99% of the stock is owned by institutional investors.

Key Stories Impacting TripAdvisor

Here are the key news stories impacting TripAdvisor this week:

• Negative Sentiment: Quarterly results disappointed. Tripadvisor reported adjusted earnings of $0.37 per share versus analysts’ $0.43 estimate, while revenue of $436.4 million fell short of the $447.4 million consensus and declined 11.1% year over year. The company also reported a $313.1 million net loss, including an approximately $370 million goodwill impairment charge. Tripadvisor earnings report
• Negative Sentiment: Executive departures and restructuring add uncertainty. CEO Matt Goldberg is leaving, and reports also cite the CFO’s departure and job cuts as Tripadvisor pursues an overhaul. The outgoing CEO said the company’s Experiences strategy fell short, raising questions about execution and the turnaround. Tripadvisor job cuts and Experiences overhaul
• Negative Sentiment: Analysts lowered targets, with two maintaining bearish ratings. Barclays cut its target from $9 to $8 and kept an Underweight rating; Cantor Fitzgerald lowered its target from $8 to $6 and also rated the stock Underweight. B. Riley cut its target from $12.50 to $8.50 and moved to Neutral. Read More., Read More. and Read More.
• Negative Sentiment: A securities investigation adds another risk. A law firm announced an investigation into potential securities-law violations following the earnings-related selloff. This is an investigation notice, not a finding of wrongdoing. Investigation notice

About TripAdvisor

Tripadvisor, Inc (NASDAQ: TRIP) operates a global travel guidance and experiences platform. Its flagship Tripadvisor brand provides user-generated reviews, ratings, photos and travel information covering hotels, restaurants, attractions and destinations, helping travelers research and plan trips.

The company also operates Viator, an online marketplace for tours, activities and other travel experiences, and TheFork, a digital restaurant reservation platform serving diners and restaurants.