The Priceline Group Inc. (PCLN) Rating Reiterated by Cantor Fitzgerald
The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Thursday. They currently have a $1,560.00 price target on the stock, up from their previous price target of $1,453.49. Cantor Fitzgerald’s price target would indicate a potential upside of 6.99% from the company’s previous close.
PCLN has been the topic of a number of other research reports. Vetr cut shares of The Priceline Group from a “hold” rating to a “sell” rating and set a $1,316.39 price target on the stock. in a research note on Tuesday, June 7th. Jefferies Group reissued a “buy” rating and issued a $1,660.00 price target on shares of The Priceline Group in a research note on Monday, July 25th. Deutsche Bank AG raised their price objective on The Priceline Group from $1,330.00 to $1,450.00 and gave the company a “buy” rating in a report on Friday, August 5th. Zacks Investment Research upgraded The Priceline Group from a “hold” rating to a “buy” rating and set a $1,575.00 price objective on the stock in a report on Thursday, August 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $1,600.00 price objective on shares of The Priceline Group in a report on Friday, August 5th. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The Priceline Group presently has a consensus rating of “Buy” and an average price target of $1,529.50.
Shares of The Priceline Group (NASDAQ:PCLN) opened at 1458.03 on Thursday. The Priceline Group has a 12 month low of $954.02 and a 12 month high of $1,476.52. The company’s 50-day moving average is $1,431.57 and its 200 day moving average is $1,341.75. The company has a market capitalization of $72.06 billion, a price-to-earnings ratio of 27.73 and a beta of 1.69.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Thursday, August 4th. The company reported $13.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.69 by $1.24. The Priceline Group had a net margin of 27.08% and a return on equity of 32.93%. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the company earned $12.45 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that The Priceline Group will post $68.78 earnings per share for the current year.
In other news, insider Glenn D. Fogel sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $1,434.75, for a total transaction of $1,434,750.00. Following the completion of the transaction, the insider now directly owns 25,131 shares of the company’s stock, valued at $36,056,702.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gillian Tans sold 131 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $1,327.89, for a total value 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 disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
A number of large investors have recently bought and sold shares of PCLN. BlueMountain Capital Management LLC boosted its stake in The Priceline Group by 65.3% in the first quarter. BlueMountain Capital Management LLC now owns 81 shares of the company’s stock valued at $104,000 after buying an additional 32 shares during the last quarter. Global X Management Co. LLC boosted its stake in The Priceline Group by 416.7% in the second quarter. Global X Management Co. LLC now owns 93 shares of the company’s stock valued at $116,000 after buying an additional 75 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in The Priceline Group by 18.1% in the second quarter. Integrated Investment Consultants LLC now owns 98 shares of the company’s stock valued at $122,000 after buying an additional 15 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in The Priceline Group by 24.3% in the second quarter. Quadrant Capital Group LLC now owns 128 shares of the company’s stock valued at $151,000 after buying an additional 25 shares during the last quarter. Finally, Cupps Capital Management LLC acquired a new stake in The Priceline Group during the second quarter valued at $157,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.
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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