The Priceline Group’s (PCLN) “Buy” Rating Reaffirmed at UBS AG

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reiterated by stock analysts at UBS AG in a note issued to investors on Thursday, www.flashratings.com reports. They presently have a $2,100.00 price target on the business services provider’s stock. UBS AG’s target price would suggest a potential upside of 13.61% from the stock’s previous close.

Several other equities analysts have also issued reports on the stock. BidaskClub upgraded shares of The Priceline Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. 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 company a “neutral” rating in a report on Wednesday, May 10th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $2,000.00 target price (up from $1,860.00) on shares of The Priceline Group in a report on Thursday, April 13th. Macquarie set a $1,970.00 target price on shares of The Priceline Group and gave the company a “buy” rating in a report on Tuesday, April 18th. Finally, J P Morgan Chase & Co lifted their target price on shares of The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $1,909.30.

Shares of The Priceline Group (NASDAQ:PCLN) traded down 3.00% during mid-day trading on Thursday, reaching $1849.62. The company’s stock had a trading volume of 1,010,622 shares. The Priceline Group has a 12 month low of $1,392.44 and a 12 month high of $2,067.99. The company has a 50-day moving average of $1,951.16 and a 200-day moving average of $1,807.68. The company has a market cap of $90.73 billion, a P/E ratio of 39.28 and a beta of 1.42. The Priceline Group also was the target of unusually large options trading activity on Tuesday. Stock investors bought 15,301 put options on the stock. This represents an increase of 209% compared to the average daily volume of 4,950 put options.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 34.28%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the business posted $13.93 earnings per share. The Priceline Group’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities research analysts forecast that The Priceline Group will post $74.80 earnings per share for the current fiscal year.

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In other news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $1,814.00, for a total transaction of $221,308.00. Following the completion of the sale, the chief executive officer now owns 6,044 shares of the company’s stock, valued at approximately $10,963,816. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jan L. Docter sold 1,500 shares of the business’s stock in a transaction 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 sale, the director now directly owns 346 shares of the company’s stock, valued at approximately $642,753.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,744 shares of company stock valued at $3,245,648. Insiders own 0.42% of the company’s stock.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock worth $5,704,234,000 after buying an additional 93,992 shares during the last quarter. FMR LLC increased its stake in shares of The Priceline Group by 3.8% in the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock worth $3,275,411,000 after buying an additional 67,569 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in shares of The Priceline Group by 210,283.2% in the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock worth $523,000 after buying an additional 977,817 shares during the last quarter. Jennison Associates LLC increased its stake in shares of The Priceline Group by 6.4% in the second quarter. Jennison Associates LLC now owns 862,773 shares of the business services provider’s stock worth $1,613,834,000 after buying an additional 52,133 shares during the last quarter. Finally, Edgewood Management LLC increased its stake in shares of The Priceline Group by 3.4% in the first quarter. Edgewood Management LLC now owns 568,388 shares of the business services provider’s stock worth $1,011,714,000 after buying an additional 18,746 shares during the last quarter. 95.01% of the stock is owned by hedge funds and other institutional investors.

About The Priceline Group

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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