Priceline Group (NASDAQ:PCLN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, January 10th.
According to Zacks, “Priceline.com 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, Priceline’s 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. Over the last 12-month period, the stock has underperformed the industry it belongs to.”
PCLN has been the topic of several other reports. Oppenheimer reissued a “buy” rating and issued a $1,950.00 price target (down from $2,100.00) on shares of Priceline Group in a research note on Tuesday, November 7th. BidaskClub raised shares of Priceline Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a $2,000.00 target price (down from $2,070.00) on shares of Priceline Group in a research note on Tuesday, November 7th. Vetr downgraded shares of Priceline Group from a “buy” rating to a “hold” rating and set a $1,915.34 target price on the stock. in a research note on Monday, January 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,900.00 target price (down from $2,100.00) on shares of Priceline Group in a research note on Tuesday, November 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Priceline Group currently has an average rating of “Buy” and a consensus target price of $2,010.80.
Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $34.31 by $0.91. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.34 billion. Priceline Group had a net margin of 29.20% and a return on equity of 33.02%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business earned $29.69 earnings per share. equities research analysts forecast that Priceline Group will post 74.42 EPS for the current fiscal year.
In other Priceline Group news, Director Jan L. Docter sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the completion of the transaction, the director now owns 142 shares in the company, valued at approximately $250,561.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $1,772.94, for a total transaction of $216,298.68. Following the transaction, the chief executive officer now owns 5,310 shares of the company’s stock, valued at approximately $9,414,311.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,445 shares of company stock valued at $2,544,764 in the last 90 days. Insiders own 0.24% of the company’s stock.
Large investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in Priceline Group in the 2nd quarter valued at about $101,000. Horan Capital Advisors LLC. acquired a new stake in Priceline Group in the 3rd quarter valued at about $103,000. Mountain Capital Investment Advisors Inc acquired a new stake in Priceline Group in the 2nd quarter valued at about $133,000. TCI Wealth Advisors Inc. grew its stake in Priceline Group by 8.7% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 75 shares of the business services provider’s stock valued at $140,000 after acquiring an additional 6 shares during the last quarter. Finally, Pathstone Family Office LLC grew its stake in Priceline Group by 135.9% in the 2nd quarter. Pathstone Family Office LLC now owns 92 shares of the business services provider’s stock valued at $2,041,000 after acquiring an additional 53 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
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Priceline Group Company Profile
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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