Travelport Worldwide (NYSE:TVPT) Stock Rating Lowered by Bank of America

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Travelport Worldwide (NYSE:TVPT) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday, August 3rd, MarketBeat reports.

A number of other research firms have also weighed in on TVPT. Imperial Capital raised their price objective on Travelport Worldwide from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, August 3rd. Morgan Stanley raised their price objective on Travelport Worldwide from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. Cowen set a $23.00 price objective on Travelport Worldwide and gave the company a “buy” rating in a research report on Thursday, August 2nd. Deutsche Bank increased their target price on Travelport Worldwide from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Finally, Zacks Investment Research upgraded Travelport Worldwide from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 25th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $21.80.

Shares of NYSE:TVPT traded up $0.05 during trading on Friday, hitting $18.62. The stock had a trading volume of 448,500 shares, compared to its average volume of 1,565,161. Travelport Worldwide has a 12 month low of $12.10 and a 12 month high of $20.30. The firm has a market capitalization of $2.36 billion, a P/E ratio of 19.80 and a beta of 0.26. The company has a debt-to-equity ratio of -16.95, a quick ratio of 0.81 and a current ratio of 0.81.

Travelport Worldwide (NYSE:TVPT) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.11. Travelport Worldwide had a negative return on equity of 36.75% and a net margin of 4.61%. The company had revenue of $662.01 million during the quarter, compared to analyst estimates of $638.77 million. During the same quarter last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. equities analysts forecast that Travelport Worldwide will post 0.26 EPS for the current fiscal year.

In other news, insider Matthew Minetola sold 20,000 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $20.02, for a total value of $400,400.00. Following the transaction, the insider now directly owns 53,402 shares in the company, valued at approximately $1,069,108.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Travelport Worldwide by 6.9% during the second quarter. BlackRock Inc. now owns 17,315,003 shares of the company’s stock valued at $321,019,000 after purchasing an additional 1,119,416 shares in the last quarter. Principal Financial Group Inc. lifted its position in Travelport Worldwide by 14.2% during the first quarter. Principal Financial Group Inc. now owns 9,520,961 shares of the company’s stock valued at $155,572,000 after purchasing an additional 1,182,970 shares in the last quarter. New South Capital Management Inc. lifted its position in Travelport Worldwide by 18.9% during the first quarter. New South Capital Management Inc. now owns 5,933,830 shares of the company’s stock valued at $96,959,000 after purchasing an additional 941,367 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Travelport Worldwide by 5.5% during the first quarter. JPMorgan Chase & Co. now owns 4,350,788 shares of the company’s stock valued at $71,091,000 after purchasing an additional 226,507 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Travelport Worldwide by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,131,480 shares of the company’s stock valued at $58,056,000 after purchasing an additional 25,008 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Travelport Worldwide Company Profile

Travelport Worldwide Limited, together with its subsidiaries, operates a travel commerce platform that offers distribution, technology, payment, and other solutions for the travel and tourism industry in the United States, the United Kingdom, and internationally. It facilitates travel commerce by connecting travel providers with online and offline travel buyers in a business-to-business travel platform.

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Analyst Recommendations for Travelport Worldwide (NYSE:TVPT)

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