Traders Buy Booking (BKNG) on Weakness on Analyst Downgrade
Traders bought shares of Booking Holdings Inc. (NASDAQ:BKNG) on weakness during trading hours on Monday after Jefferies Financial Group downgraded the stock from a neutral rating to a hold rating. $347.63 million flowed into the stock on the tick-up and $275.77 million flowed out of the stock on the tick-down, for a money net flow of $71.86 million into the stock. Of all stocks tracked, Booking had the 15th highest net in-flow for the day. Booking traded down ($43.40) for the day and closed at $1,854.26
BKNG has been the subject of several other reports. Zacks Investment Research lowered Booking from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $2,200.00 price objective (up from $2,100.00) on shares of Booking in a research note on Wednesday, July 11th. Wells Fargo & Co reiterated a “hold” rating and set a $2,050.00 price objective on shares of Booking in a research note on Monday, May 7th. SunTrust Banks reiterated a “buy” rating and set a $2,300.00 price objective on shares of Booking in a research note on Tuesday, July 10th. Finally, Benchmark lowered Booking from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Booking currently has an average rating of “Buy” and a consensus target price of $2,154.45.
In other news, CEO Gillian Tans sold 295 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $2,030.98, for a total transaction of $599,139.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.24% of the company’s stock.
The firm has a market cap of $91.42 billion, a P/E ratio of 24.55, a P/E/G ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.14 and a quick ratio of 2.14.
Booking (NASDAQ:BKNG) last released its quarterly earnings data on Thursday, August 9th. The business services provider reported $20.67 EPS for the quarter, beating analysts’ consensus estimates of $17.34 by $3.33. Booking had a return on equity of 24.14% and a net margin of 20.07%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the firm posted $24.39 earnings per share. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. research analysts expect that Booking Holdings Inc. will post 88.65 EPS for the current fiscal year.
Booking Company Profile (NASDAQ:BKNG)
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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