The Priceline Group Inc. (PCLN) Price Target Increased to $1,750.00 by Analysts at Royal Bank Of Canada
The Priceline Group Inc. (NASDAQ:PCLN) had its target price hoisted by Royal Bank Of Canada from $1,600.00 to $1,750.00 in a research note issued to investors on Friday. Royal Bank Of Canada currently has an outperform rating on the stock.
PCLN has been the subject of several other research reports. Cantor Fitzgerald reissued a buy rating on shares of The Priceline Group in a report on Sunday, August 28th. Jefferies Group reissued a buy rating and set a $1,660.00 price target on shares of The Priceline Group in a report on Monday, July 25th. Deutsche Bank AG boosted their price target on shares of 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 raised shares of The Priceline Group from a hold rating to a buy rating and set a $1,575.00 price target for the company in a report on Thursday, August 11th. Finally, Vetr downgraded shares of The Priceline Group from a strong-buy rating to a buy rating and set a $1,598.32 price target for the company. in a report on Thursday, September 29th. Six research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $1,538.19.
The Priceline Group (NASDAQ:PCLN) traded down 0.19% during trading on Friday, reaching $1477.00. 176,489 shares of the company’s stock traded hands. The Priceline Group has a 12 month low of $954.02 and a 12 month high of $1,501.79. The company has a 50-day moving average of $1,445.54 and a 200 day moving average of $1,348.86. The stock has a market capitalization of $73.00 billion, a P/E ratio of 28.09 and a beta of 1.62.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Thursday, August 4th. The company reported $13.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 earned $2.55 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $12.45 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that The Priceline Group will post $68.57 earnings per share for the current fiscal year.
In related news, insider Glenn D. Fogel sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $1,434.75, for a total value of $1,434,750.00. Following the transaction, the insider now owns 25,131 shares in the company, valued at $36,056,702.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffery H. Boyd sold 2,814 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $1,467.98, for a total value of $4,130,895.72. Following the completion of the transaction, the chief executive officer now owns 88,939 shares in the company, valued at approximately $130,560,673.22. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors increased its position in The Priceline Group by 38.0% in the second quarter. Capital World Investors now owns 1,235,836 shares of the company’s stock worth $1,542,830,000 after buying an additional 340,386 shares in the last quarter. Lone Pine Capital LLC increased its position in The Priceline Group by 41.6% in the second quarter. Lone Pine Capital LLC now owns 1,120,758 shares of the company’s stock worth $1,399,165,000 after buying an additional 329,121 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in The Priceline Group during the first quarter worth approximately $251,864,000. Jennison Associates LLC increased its position in The Priceline Group by 21.2% in the second quarter. Jennison Associates LLC now owns 858,165 shares of the company’s stock worth $1,071,342,000 after buying an additional 150,154 shares in the last quarter. Finally, BlackRock Investment Management LLC increased its position in The Priceline Group by 73.6% in the second quarter. BlackRock Investment Management LLC now owns 216,593 shares of the company’s stock worth $270,397,000 after buying an additional 91,819 shares in the last quarter. 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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