Booking (BKNG) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Booking (NASDAQ:BKNG) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Booking Holdings is benefiting from continued momentum in both agency and merchant businesses. Room nights and Rental cars have performed impressively. We remain positive about the secular growth trend in the online travel booking market, its strong position in international markets, growth opportunities in the domestic market, good execution, prudent marketing strategy and strong financial position are positives. At the same time, weaker ADRs and airline tickets, macro headwinds, increasing advertising spend and occupancy tax-related litigation remain overhangs. Notably, the stock has underperformed the industry it belongs to over a year.”
Other research analysts also recently issued reports about the stock. SunTrust Banks boosted their target price on shares of Booking from $2,350.00 to $2,380.00 and gave the company a buy rating in a research report on Friday, April 13th. Stifel Nicolaus lifted their price objective on shares of Booking from $2,222.00 to $2,332.00 and gave the company a buy rating in a report on Thursday, May 10th. Benchmark cut shares of Booking from a buy rating to a hold rating in a report on Friday, June 22nd. ValuEngine cut shares of Booking from a buy rating to a hold rating in a report on Friday, May 18th. Finally, Deutsche Bank reaffirmed a hold rating and issued a $2,175.00 price objective on shares of Booking in a report on Tuesday, May 8th. They noted that the move was a valuation call. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Booking has a consensus rating of Buy and an average target price of $2,144.86.
Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, August 9th. The business services provider reported $20.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $17.34 by $3.33. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.45 billion. Booking had a net margin of 18.90% and a return on equity of 22.03%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the firm posted $24.39 earnings per share. research analysts expect that Booking will post 88.63 earnings per share for the current year.
In other Booking news, CEO Gillian Tans sold 295 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $2,126.07, for a total value of $627,190.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.
Large investors have recently bought and sold shares of the business. Paradigm Asset Management Co. LLC acquired a new position in shares of Booking in the 1st quarter worth approximately $104,000. C WorldWide Group Holding A S acquired a new position in shares of Booking in the 1st quarter worth approximately $104,000. Fortis Advisors LLC acquired a new position in shares of Booking in the 1st quarter worth approximately $104,000. Whittier Trust Co. acquired a new position in shares of Booking in the 1st quarter worth approximately $108,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Booking in the 2nd quarter worth approximately $109,000. Institutional investors own 91.50% of the company’s stock.
Booking Holdings Inc, formerly 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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