Tuniu Corp Downgraded to “Neutral” at Credit Suisse (TOUR)
Tuniu Corp (NASDAQ:TOUR) was downgraded by stock analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $18.00 price objective on the stock, down from their previous price objective of $20.00. Credit Suisse’s target price would suggest a potential downside of 18.48% from the company’s current price.
Shares of Tuniu Corp (NASDAQ:TOUR) opened at 22.08 on Wednesday. Tuniu Corp has a 52-week low of $8.52 and a 52-week high of $24.99. The stock has a 50-day moving average of $19.09 and a 200-day moving average of $17.02. The company’s market cap is $787.6 million. Tuniu Corp also saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 1,430,258 shares, an increase of 99.1% from the July 15th total of 718,513 shares. Currently, 13.3% of the shares of the company are sold short. Based on an average daily volume of 662,901 shares, the days-to-cover ratio is presently 2.2 days.
Tuniu Corp (NASDAQ:TOUR) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.21) by $0.14. On average, analysts predict that Tuniu Corp will post $-0.64 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley initiated coverage on shares of Tuniu Corp in a research note on Wednesday, June 18th. They set an “equal weight” rating and a $19.50 price target on the stock. Analysts at Oppenheimer initiated coverage on shares of Tuniu Corp in a research note on Thursday, June 12th. They set a “market perform” rating on the stock.
Tuniu Corporation is an online leisure travel company. The Company offers a selection of packaged tours, including organized tours and self-guided tours, as well as travel-related services for leisure travelers.