Ctrip.com International Ltd. (CTRP) Upgraded to Buy by HSBC
HSBC upgraded shares of Ctrip.com International Ltd. (NASDAQ:CTRP) from a hold rating to a buy rating in a report issued on Friday. The firm currently has $53.00 price objective on the stock, up from their previous price objective of $46.00.
Several other equities research analysts have also recently weighed in on CTRP. Vetr upgraded shares of Ctrip.com International from a hold rating to a buy rating and set a $52.50 price objective for the company in a research report on Wednesday, August 31st. Bank of America Corp. set a $53.00 price objective on shares of Ctrip.com International and gave the company a buy rating in a research report on Monday, August 29th. Morgan Stanley raised their price objective on shares of Ctrip.com International from $53.00 to $55.00 and gave the company an overweight rating in a research report on Thursday, August 25th. Zacks Investment Research cut shares of Ctrip.com International from a hold rating to a sell rating in a research report on Tuesday, November 15th. Finally, Credit Suisse Group AG assumed coverage on shares of Ctrip.com International in a research report on Friday, September 2nd. They issued an outperform rating and a $58.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Ctrip.com International presently has a consensus rating of Buy and a consensus price target of $55.49.
Shares of Ctrip.com International (NASDAQ:CTRP) opened at 45.01 on Friday. Ctrip.com International has a 12 month low of $35.50 and a 12 month high of $55.60. The company has a 50 day moving average of $0.00 and a 200 day moving average of $0.00.
Ctrip.com International (NASDAQ:CTRP) last announced its quarterly earnings results on Wednesday, November 23rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.06. Ctrip.com International had a negative net margin of 11.48% and a negative return on equity of 3.28%. The firm earned $836 million during the quarter. During the same period in the prior year, the business earned $1.10 earnings per share. The company’s revenue for the quarter was up 61.0% on a year-over-year basis. Equities analysts forecast that Ctrip.com International will post ($0.72) earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Ctrip.com International by 31.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 23,551,572 shares of the company’s stock valued at $1,096,797,000 after buying an additional 5,701,896 shares during the period. Winslow Capital Management LLC acquired a new position in Ctrip.com International during the third quarter valued at approximately $248,137,000. Hillhouse Capital Management Ltd. acquired a new position in Ctrip.com International during the third quarter valued at approximately $199,669,000. Coronation Fund Managers Ltd. acquired a new position in Ctrip.com International during the second quarter valued at approximately $134,147,000. Finally, BlackRock Institutional Trust Company N.A. increased its position in Ctrip.com International by 146.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,934,919 shares of the company’s stock valued at $162,119,000 after buying an additional 2,339,923 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.
About Ctrip.com International
Ctrip.com International, Ltd. (Ctrip) is a travel service provider for accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. The Company aggregates hotel and transportation information to enable business and leisure travelers to make bookings. It helps leisure travelers book tour packages and guided tours, and helps corporate clients manage their travel requirements.
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