The Priceline Group Inc. (PCLN) Earns “Overweight” Rating from Morgan Stanley
Morgan Stanley reissued their overweight rating on shares of The Priceline Group Inc. (NASDAQ:PCLN) in a report released on Tuesday, The Fly reports. Morgan Stanley currently has a $1,900.00 price target on the business services provider’s stock, down from their prior price target of $2,100.00.
Several other research firms also recently weighed in on PCLN. Credit Suisse Group restated 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. Macquarie raised their target price on The Priceline Group from $2,000.00 to $2,200.00 and gave the company a positive rating in a research report on Wednesday, August 9th. Deutsche Bank AG restated a hold rating and issued a $2,075.00 target price (up previously from $1,950.00) on shares of The Priceline Group in a research report on Wednesday, August 9th. Royal Bank Of Canada raised their target price on The Priceline Group from $2,000.00 to $2,050.00 and gave the company an outperform rating in a research report on Wednesday, August 9th. Finally, Wells Fargo & Company restated a hold rating and issued a $1,850.00 target price on shares of The Priceline Group in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The Priceline Group presently has an average rating of Buy and a consensus target price of $2,020.52.
Shares of The Priceline Group (NASDAQ PCLN) traded down $5.89 on Tuesday, reaching $1,697.25. The company’s stock had a trading volume of 724,576 shares, compared to its average volume of 459,030. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.20 and a current ratio of 2.52. The Priceline Group has a one year low of $1,459.49 and a one year high of $2,067.99. The firm has a market capitalization of $83,550.00, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.32 and a beta of 1.43.
The Priceline Group (NASDAQ:PCLN) last released its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, beating the consensus estimate of $34.31 by $0.91. The business had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.34 billion. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $29.69 earnings per share. analysts anticipate that The Priceline Group will post 74.44 earnings per share for the current fiscal year.
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In other news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total value of $225,208.34. Following the completion of the sale, the chief executive officer now directly owns 5,677 shares of the company’s stock, valued at approximately $10,479,571.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 367 shares of company stock valued at $693,175 over the last ninety days. 0.24% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of PCLN. Harvest Fund Management Co. Ltd purchased a new stake in shares of The Priceline Group in the 2nd quarter valued at about $101,000. Horan Capital Advisors LLC. purchased a new stake in The Priceline Group during the 3rd quarter valued at approximately $103,000. Shine Investment Advisory Services Inc. purchased a new stake in The Priceline Group during the 2nd quarter valued at approximately $105,000. Capital Advisors Ltd. LLC purchased a new stake in The Priceline Group during the 2nd quarter valued at approximately $112,000. Finally, Proficio Capital Partners LLC raised its stake in The Priceline Group by 29.6% during the 1st quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 16 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.
The Priceline Group Company Profile
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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