Wedbush Reiterates Neutral Rating for Tripadvisor (NASDAQ:TRIP)

Wedbush reiterated their neutral rating on shares of Tripadvisor (NASDAQ:TRIP) in a research report released on Friday morning, Benzinga reports. Wedbush currently has a $21.00 price objective on the travel company’s stock.

A number of other equities research analysts have also weighed in on the company. The Goldman Sachs Group lowered their price objective on Tripadvisor from $34.00 to $27.00 and set a buy rating on the stock in a report on Thursday, May 9th. Citigroup increased their target price on shares of Tripadvisor from $23.00 to $28.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. BMO Capital Markets decreased their price target on shares of Tripadvisor from $23.00 to $20.00 and set a market perform rating on the stock in a research report on Thursday, May 9th. JPMorgan Chase & Co. dropped their target price on shares of Tripadvisor from $25.00 to $17.00 and set an underweight rating for the company in a research note on Thursday, May 9th. Finally, Barclays reduced their price target on shares of Tripadvisor from $20.00 to $15.00 and set an underweight rating for the company in a report on Friday, May 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $22.18.

Tripadvisor Stock Performance

Shares of NASDAQ TRIP traded up $0.12 during trading on Friday, reaching $17.89. 1,716,309 shares of the company traded hands, compared to its average volume of 4,167,911. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.08. Tripadvisor has a 12-month low of $14.15 and a 12-month high of $28.76. The firm’s fifty day simple moving average is $24.63 and its 200 day simple moving average is $22.72. The stock has a market cap of $2.49 billion, a P/E ratio of 119.27, a PEG ratio of 1.47 and a beta of 1.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TRIP. AQR Capital Management LLC increased its position in shares of Tripadvisor by 38.1% in the third quarter. AQR Capital Management LLC now owns 5,115,807 shares of the travel company’s stock valued at $84,820,000 after acquiring an additional 1,410,932 shares during the period. Norges Bank bought a new position in shares of Tripadvisor in the fourth quarter worth approximately $27,807,000. Vanguard Group Inc. boosted its position in shares of Tripadvisor by 11.7% during the third quarter. Vanguard Group Inc. now owns 12,084,674 shares of the travel company’s stock worth $200,364,000 after acquiring an additional 1,263,706 shares during the last quarter. Kettle Hill Capital Management LLC purchased a new stake in shares of Tripadvisor in the third quarter valued at $19,626,000. Finally, Maple Rock Capital Partners Inc. purchased a new position in Tripadvisor in the 3rd quarter worth about $16,431,000. 98.99% of the stock is owned by institutional investors.

Tripadvisor Company Profile

TripAdvisor, Inc operates as an online travel company, primarily engages in the provision of travel guidance products and services worldwide. The company operates in three segments: Brand Tripadvisor, Viator, and TheFork. The Brand Tripadvisor segment offers travel guidance platforms for travelers to discover, generate, and share authentic user-generated content in the form of ratings and reviews for destinations, points-of-interest, experiences, accommodations, restaurants, and cruises.