TripAdvisor Inc. (TRIP) Earns Sector Perform Rating from RBC Capital Markets
TripAdvisor Inc. (NASDAQ:TRIP)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at RBC Capital Markets in a report issued on Thursday. They currently have a $50.00 price target on the travel company’s stock, down from their prior price target of $55.00. RBC Capital Markets’ target price would indicate a potential downside of 5.00% from the stock’s previous close.
A number of other brokerages have also weighed in on TRIP. Cantor Fitzgerald restated a “hold” rating and set a $67.00 price objective on shares of TripAdvisor in a research report on Friday, August 5th. Deutsche Bank AG lowered TripAdvisor from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $71.00 to $63.00 in a research report on Friday, August 5th. Wells Fargo & Co. restated a “market perform” rating and set a $67.00 price objective (down previously from $71.00) on shares of TripAdvisor in a research report on Sunday, August 7th. Bank of America Corp. set a $41.00 price objective on TripAdvisor and gave the stock a “sell” rating in a research report on Monday, September 12th. Finally, Zacks Investment Research lowered TripAdvisor from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company’s stock. TripAdvisor has a consensus rating of “Hold” and an average price target of $64.66.
TripAdvisor (NASDAQ:TRIP) opened at 52.63 on Thursday. TripAdvisor has a 1-year low of $51.00 and a 1-year high of $87.50. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 55.40 and a beta of 2.31. The firm has a 50-day moving average price of $62.81 and a 200-day moving average price of $64.30.
TripAdvisor (NASDAQ:TRIP) last issued its quarterly earnings results on Tuesday, November 8th. The travel company reported $0.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. TripAdvisor had a return on equity of 12.93% and a net margin of 8.08%. The company had revenue of $421 million for the quarter, compared to analyst estimates of $436.31 million. During the same quarter last year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts expect that TripAdvisor will post $1.56 earnings per share for the current fiscal year.
In related news, SVP Seth J. Kalvert sold 1,687 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $60.50, for a total value of $102,063.50. Following the transaction, the senior vice president now owns 10,653 shares in the company, valued at $644,506.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Viator CEO Barrie Seidenberg sold 4,274 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $60.77, for a total value of $259,730.98. Following the completion of the transaction, the insider now owns 286 shares in the company, valued at approximately $17,380.22. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of TRIP. Stone Ridge Asset Management LLC increased its position in TripAdvisor by 37.1% in the first quarter. Stone Ridge Asset Management LLC now owns 4,800 shares of the travel company’s stock valued at $319,000 after buying an additional 1,300 shares during the last quarter. Sterling Ridge Capital Management LP bought a new stake in TripAdvisor during the first quarter valued at about $1,101,000. Magnetar Financial LLC bought a new stake in TripAdvisor during the first quarter valued at about $294,000. Slate Path Capital LP increased its stake in TripAdvisor by 57.1% in the first quarter. Slate Path Capital LP now owns 1,575,000 shares of the travel company’s stock valued at $104,738,000 after buying an additional 572,727 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in TripAdvisor during the first quarter valued at about $1,457,000. Institutional investors and hedge funds own 87.95% of the company’s stock.
TripAdvisor, Inc is an online travel company, which owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s flagship brand, is a travel Website. The Company operates in two segments. The Hotel segment’s services include making hotel room nights available for price comparison and booking, including instant booking feature, as well as subscription-based hotel products, such as Business Listings, and transaction-based hotel products, such as Jetsetter and Tingo.
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