TripAdvisor Inc. (TRIP) Rating Increased to Hold at Zacks Investment Research
TripAdvisor Inc. (NASDAQ:TRIP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “TripAdvisor is one of the largest online travel research companies in the world. The company's third quarter earnings and revenue missed the Zacks Consensus Estimate. However, the secular growth trend in the online travel space, the company’s solid fundamentals, growth initiatives, partnerships to boost hotel bookings, strong focus on developing its mobile products, expansion into the international restaurant reservation space and improvement in user growth and engagement, especially related to mobile devices are likely to help the company to achieve desired results. Macro headwinds, increasing competition and uncertainty regarding the timeline for recovery of investments remain overhangs.”
Other equities analysts also recently issued reports about the stock. Jefferies Group lowered their target price on shares of TripAdvisor from $68.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, November 10th. Barclays PLC restated an “equal weight” rating and set a $57.00 target price (down from $67.00) on shares of TripAdvisor in a report on Friday, November 11th. RBC Capital Markets restated a “sector perform” rating and set a $50.00 target price (down from $55.00) on shares of TripAdvisor in a report on Thursday, November 10th. Citigroup Inc. upgraded shares of TripAdvisor to a “market perform” rating in a report on Thursday, July 28th. They noted that the move was a valuation call. Finally, Bank of America Corp. set a $41.00 price objective on shares of TripAdvisor and gave the company a “sell” rating in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $63.08.
TripAdvisor (NASDAQ:TRIP) opened at 50.02 on Monday. The stock’s 50 day moving average is $61.59 and its 200-day moving average is $63.93. The company has a market capitalization of $7.29 billion, a P/E ratio of 60.12 and a beta of 2.31. TripAdvisor has a 12-month low of $48.52 and a 12-month high of $87.50.
TripAdvisor (NASDAQ:TRIP) last issued its earnings results on Tuesday, November 8th. The travel company reported $0.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.53. The business had revenue of $421 million for the quarter, compared to the consensus estimate of $436.31 million. TripAdvisor had a net margin of 8.08% and a return on equity of 12.67%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. On average, equities analysts predict that TripAdvisor will post $1.54 earnings per share for the current fiscal year.
In other TripAdvisor news, Viator CEO Barrie Seidenberg sold 4,274 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $60.77, for a total transaction of $259,730.98. Following the completion of the sale, the insider now owns 286 shares of the company’s stock, valued at approximately $17,380.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Seth J. Kalvert sold 1,687 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $60.50, for a total transaction of $102,063.50. Following the sale, the senior vice president now directly owns 10,653 shares of the company’s stock, valued at approximately $644,506.50. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.
Several hedge funds have recently made changes to their positions in TRIP. Baillie Gifford & Co. increased its stake in shares of TripAdvisor by 21.2% in the second quarter. Baillie Gifford & Co. now owns 12,128,581 shares of the travel company’s stock valued at $779,867,000 after buying an additional 2,118,945 shares during the period. Carmignac Gestion bought a new stake in shares of TripAdvisor during the third quarter valued at approximately $113,692,000. Thunderbird Partners LLP bought a new stake in shares of TripAdvisor during the third quarter valued at approximately $85,749,000. Valiant Capital Management L.P. bought a new stake in shares of TripAdvisor during the second quarter valued at approximately $59,613,000. Finally, Morgan Stanley increased its stake in shares of TripAdvisor by 71.2% in the third quarter. Morgan Stanley now owns 2,163,439 shares of the travel company’s stock valued at $136,687,000 after buying an additional 899,742 shares during the period. 88.02% of the stock is owned by institutional investors.
TripAdvisor Company Profile
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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