Ctrip.com International, Ltd. (NASDAQ:CTRP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, August 8th.
According to Zacks, “Ctrip.com International, Ltd. is a leading travel service provider of hotel accommodations, airline tickets and packaged-tours in China. Ctrip aggregates information on hotels and flights and enables customers to make informed and cost-effective hotel and flight bookings. Ctrip targets primarily business and leisure travelers in China who do not travel in group. These travelers form a traditionally under-served yet fast-growing segment of the China travel industry. Ctrip has experienced substantial growth and become one of the best-known travel brands in China. “
Several other brokerages have also issued reports on CTRP. Cowen and Company reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ctrip.com International in a research note on Wednesday, July 19th. ValuEngine raised shares of Ctrip.com International from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus lifted their price objective on shares of Ctrip.com International from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, May 11th. Instinet reissued a “buy” rating and set a $64.00 price objective on shares of Ctrip.com International in a research note on Monday, May 15th. Finally, Daiwa Capital Markets reissued a “buy” rating and set a $65.00 price objective (up previously from $55.00) on shares of Ctrip.com International in a research note on Sunday, May 14th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.73.
Ctrip.com International (CTRP) traded up 2.54% during mid-day trading on Tuesday, reaching $50.44. 6,897,068 shares of the company traded hands. The stock’s 50-day moving average price is $55.93 and its 200-day moving average price is $51.89. Ctrip.com International has a one year low of $39.71 and a one year high of $60.65.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by BBNS and is the sole property of of BBNS. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://baseballnewssource.com/markets/ctrip-com-international-ltd-ctrp-rating-lowered-to-hold-at-zacks-investment-research-updated/1409598.html.
Hedge funds have recently bought and sold shares of the stock. IHT Wealth Management LLC increased its stake in Ctrip.com International by 0.5% in the first quarter. IHT Wealth Management LLC now owns 3,202 shares of the company’s stock worth $157,000 after buying an additional 15 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Ctrip.com International by 1.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,646 shares of the company’s stock worth $143,000 after buying an additional 46 shares during the period. American International Group Inc. increased its stake in Ctrip.com International by 0.3% in the first quarter. American International Group Inc. now owns 23,512 shares of the company’s stock worth $1,156,000 after buying an additional 63 shares during the period. Baldwin Investment Management LLC increased its stake in Ctrip.com International by 2.0% in the second quarter. Baldwin Investment Management LLC now owns 4,283 shares of the company’s stock worth $231,000 after buying an additional 85 shares during the period. Finally, Rathbone Brothers plc increased its stake in Ctrip.com International by 2.8% in the second quarter. Rathbone Brothers plc now owns 4,255 shares of the company’s stock worth $229,000 after buying an additional 115 shares during the period. Institutional investors own 66.43% of the company’s stock.
Ctrip.com International Company Profile
Ctrip.com International, Ltd. (Ctrip) is a travel service provider for accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. The Company aggregates hotel and transportation information to enable business and leisure travelers to make bookings. It helps leisure travelers book tour packages and guided tours, and helps corporate clients manage their travel requirements.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ctrip.com International Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ctrip.com International Ltd. and related companies with our FREE daily email newsletter.