Bank of America Corporation Reiterates Buy Rating for Ctrip.com International, Ltd. (CTRP)
Ctrip.com International, Ltd. (NASDAQ:CTRP)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America Corporation in a research report issued to clients and investors on Sunday. They currently have a $58.00 target price on the stock. Bank of America Corporation’s target price points to a potential upside of 14.56% from the stock’s current price.
A number of other equities analysts also recently issued reports on CTRP. BidaskClub downgraded Ctrip.com International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Cowen and Company restated a “buy” rating and issued a $60.00 price target on shares of Ctrip.com International in a research note on Tuesday, August 22nd. Benchmark Co. dropped their price target on Ctrip.com International from $61.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, August 31st. Zacks Investment Research downgraded Ctrip.com International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Daiwa Capital Markets restated a “buy” rating and issued a $65.00 price target (up from $55.00) on shares of Ctrip.com International in a research note on Sunday, May 14th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned 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 a consensus target price of $57.79.
Shares of Ctrip.com International (CTRP) opened at 50.63 on Friday. Ctrip.com International has a one year low of $39.71 and a one year high of $60.65. The company’s 50-day moving average price is $55.29 and its 200-day moving average price is $52.52. The company has a market capitalization of $26.30 billion, a price-to-earnings ratio of 723.29 and a beta of 1.69.
Ctrip.com International (NASDAQ:CTRP) last issued its earnings results on Wednesday, August 30th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.20 by $0.11. Ctrip.com International had a net margin of 4.56% and a return on equity of 1.41%. The business had revenue of $946.38 million for the quarter, compared to analysts’ expectations of $929.55 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 42.5% on a year-over-year basis. On average, equities research analysts predict that Ctrip.com International will post $0.90 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in CTRP. Janus Henderson Group PLC bought a new position in Ctrip.com International in the 2nd quarter worth $318,276,000. Capital Research Global Investors raised its holdings in Ctrip.com International by 37.6% in the 2nd quarter. Capital Research Global Investors now owns 12,717,070 shares of the company’s stock worth $684,941,000 after purchasing an additional 3,478,011 shares during the period. William Blair Investment Management LLC raised its holdings in Ctrip.com International by 297.9% in the 1st quarter. William Blair Investment Management LLC now owns 4,083,783 shares of the company’s stock worth $200,718,000 after purchasing an additional 3,057,546 shares during the period. Hillhouse Capital Management Ltd. raised its holdings in Ctrip.com International by 140.6% in the 2nd quarter. Hillhouse Capital Management Ltd. now owns 4,812,246 shares of the company’s stock worth $259,188,000 after purchasing an additional 2,812,246 shares during the period. Finally, Capital World Investors raised its holdings in Ctrip.com International by 20.5% in the 2nd quarter. Capital World Investors now owns 12,534,949 shares of the company’s stock worth $675,132,000 after purchasing an additional 2,129,879 shares during the period. 67.62% of the stock is currently owned by institutional investors.
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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