The Priceline Group Inc. (PCLN) Rating Reiterated by UBS AG
The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “overweight” rating restated by UBS AG in a research note issued on Thursday.
PCLN has been the topic of a number of other research reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $2,070.00 target price (down previously from $2,150.00) on shares of The Priceline Group in a research report on Wednesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating on shares of The Priceline Group in a research report on Wednesday, June 21st. MKM Partners reaffirmed a “buy” rating and issued a $2,050.00 target price (up previously from $2,030.00) on shares of The Priceline Group in a research report on Wednesday, May 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $2,100.00 target price on shares of The Priceline Group in a research report on Thursday, August 10th. Finally, Deutsche Bank AG upped their target price on shares of The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $1,924.32.
The Priceline Group (NASDAQ:PCLN) opened at 1793.48 on Thursday. The stock has a market cap of $87.99 billion, a PE ratio of 38.09 and a beta of 1.42. The firm has a 50 day moving average of $1,936.36 and a 200-day moving average of $1,827.19. The Priceline Group has a 52-week low of $1,402.67 and a 52-week high of $2,067.99.
The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the company posted $13.93 earnings per share. The Priceline Group’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities analysts anticipate that The Priceline Group will post $74.77 earnings per share for the current fiscal year.
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In related news, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares of the company’s stock, valued at $642,753.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gillian Tans sold 123 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $1,880.38, for a total value of $231,286.74. Following the completion of the transaction, the chief executive officer now directly owns 5,799 shares of the company’s stock, valued at $10,904,323.62. The disclosure for this sale can be found here. Insiders sold 4,367 shares of company stock valued at $8,166,685 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd acquired a new position in shares of The Priceline Group during the second quarter worth about $101,000. Shine Investment Advisory Services Inc. acquired a new position in shares of The Priceline Group during the second quarter worth about $105,000. Webster Bank N. A. increased its position in shares of The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock worth $110,000 after buying an additional 12 shares during the period. Assetmark Inc. increased its position in shares of The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after buying an additional 7 shares during the period. Finally, Capital Advisors Ltd. LLC acquired a new position in shares of The Priceline Group during the second quarter worth about $112,000. 95.22% of the stock is owned by hedge funds and other institutional investors.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant online 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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