Jefferies Group LLC Reaffirms Buy Rating for The Priceline Group Inc. (PCLN)

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a report issued on Thursday. They currently have a $2,300.00 price objective on the business services provider’s stock, up from their previous price objective of $2,250.00. Jefferies Group LLC’s target price suggests a potential upside of 20.62% from the stock’s current price. Jefferies Group also issued estimates for The Priceline Group’s Q4 2017 earnings at $16.47 EPS.

PCLN has been the subject of several other research reports. Benchmark Co. reiterated a “buy” rating and issued a $2,050.00 target price (up previously from $1,900.00) on shares of The Priceline Group in a research note on Sunday, May 14th. Deutsche Bank AG lifted their target price on shares of The Priceline Group from $1,725.00 to $2,000.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $2,070.00 target price (up previously from $1,915.00) on shares of The Priceline Group in a research note on Monday, May 8th. Macquarie set a $1,970.00 target price on shares of The Priceline Group and gave the stock a “buy” rating in a research note on Tuesday, April 18th. Finally, Goldman Sachs Group, Inc. (The) lifted their target price on shares of The Priceline Group from $1,750.00 to $1,850.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The Priceline Group currently has a consensus rating of “Buy” and an average target price of $1,907.63.

Shares of The Priceline Group (NASDAQ PCLN) opened at 1906.80 on Thursday. The company’s 50 day moving average is $1,951.68 and its 200 day moving average is $1,807.38. The Priceline Group has a one year low of $1,392.44 and a one year high of $2,067.99. The company has a market cap of $93.70 billion, a P/E ratio of 43.05 and a beta of 1.42. The Priceline Group also was the recipient of unusually large options trading activity on Tuesday. Traders acquired 15,301 put options on the stock. This represents an increase of approximately 209% compared to the typical volume of 4,950 put options.

The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping the consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 34.28%. The company’s revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the company earned $13.93 earnings per share. On average, equities analysts predict that The Priceline Group will post $74.20 earnings per share for the current year.

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In other The Priceline Group news, Director Jan L. Docter sold 1,500 shares of The Priceline Group stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the transaction, the director now directly owns 346 shares of the company’s stock, valued at $642,753.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the transaction, the chief executive officer now directly owns 5,922 shares in the company, valued at $11,544,761.34. The disclosure for this sale can be found here. Insiders have sold 1,744 shares of company stock worth $3,245,648 over the last three months. Insiders own 0.42% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PCLN. WESPAC Advisors LLC acquired a new position in The Priceline Group during the second quarter valued at approximately $299,000. Gareth Morgan Investments Limited Partnership increased its position in The Priceline Group by 57.1% in the second quarter. Gareth Morgan Investments Limited Partnership now owns 5,186 shares of the business services provider’s stock valued at $9,701,000 after buying an additional 1,884 shares during the period. Carderock Capital Management Inc. increased its position in The Priceline Group by 1.4% in the second quarter. Carderock Capital Management Inc. now owns 1,683 shares of the business services provider’s stock valued at $3,147,000 after buying an additional 24 shares during the period. Argent Trust Co increased its position in The Priceline Group by 0.7% in the second quarter. Argent Trust Co now owns 767 shares of the business services provider’s stock valued at $1,434,000 after buying an additional 5 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in The Priceline Group by 23.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 678 shares of the business services provider’s stock valued at $1,268,000 after buying an additional 130 shares during the period. 95.01% of the stock is currently owned by hedge funds and other institutional investors.

The Priceline Group Company Profile

The Priceline Group Inc is a provider of travel and restaurant online 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.

Analyst Recommendations for The Priceline Group (NASDAQ:PCLN)

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