The Priceline Group Inc. (PCLN) Downgraded to Buy at Vetr Inc.
Vetr downgraded shares of The Priceline Group Inc. (NASDAQ:PCLN) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning. The firm currently has $1,598.32 target price on the stock.
Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald reissued a buy rating on shares of The Priceline Group in a research note on Saturday, June 4th. Piper Jaffray Cos. reissued a buy rating and issued a $1,500.00 price target on shares of The Priceline Group in a research note on Tuesday, June 21st. Barclays PLC raised shares of The Priceline Group from an equal weight rating to an overweight rating and boosted their price target for the company from $1,300.00 to $1,500.00 in a research note on Wednesday, June 22nd. They noted that the move was a valuation call. 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, June 27th. Finally, Royal Bank Of Canada reissued an outperform rating and issued a $1,600.00 price target on shares of The Priceline Group in a research note on Tuesday, June 28th. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $1,525.14.
Shares of The Priceline Group (NASDAQ:PCLN) traded down 0.29% during mid-day trading on Thursday, hitting $1468.76. 75,257 shares of the stock traded hands. The Priceline Group has a 12 month low of $954.02 and a 12 month high of $1,481.78. The firm has a 50 day moving average of $1,433.48 and a 200 day moving average of $1,342.68. The company has a market cap of $72.59 billion, a P/E ratio of 27.94 and a beta of 1.69.
The Priceline Group (NASDAQ:PCLN) last issued its earnings results on Thursday, August 4th. The company reported $13.93 EPS for the quarter, topping 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 company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $12.45 earnings per share. The Priceline Group’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts anticipate that The Priceline Group will post $68.57 EPS for the current fiscal year.
In other news, CEO Gillian Tans sold 130 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $1,431.98, for a total transaction of $186,157.40. Following the completion of the sale, the chief executive officer now owns 5,788 shares of the company’s stock, valued at $8,288,300.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffery H. Boyd sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $1,353.90, for a total transaction of $4,061,700.00. Following the sale, the chief executive officer now directly owns 94,488 shares of the company’s stock, valued at approximately $127,927,303.20. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC increased 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 worth $104,000 after buying an additional 32 shares during the last quarter. Global X Management Co. LLC increased its position 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 worth $116,000 after buying an additional 75 shares in the last quarter. Integrated Investment Consultants LLC increased its position in The Priceline Group by 18.1% in the second quarter. Integrated Investment Consultants LLC now owns 98 shares of the company’s stock worth $122,000 after buying an additional 15 shares in the last quarter. Quadrant Capital Group LLC increased its position in The Priceline Group by 24.3% in the second quarter. Quadrant Capital Group LLC now owns 128 shares of the company’s stock worth $151,000 after buying an additional 25 shares in the last quarter. Finally, Cupps Capital Management LLC acquired a new position in The Priceline Group during the second quarter worth approximately $157,000. 93.99% of the stock is owned by institutional investors and hedge funds.
The Priceline Group Company Profile
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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