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Priceline Group (NASDAQ:PCLN) was downgraded by investment analysts at Evercore Partners from an “overweight” rating to an “equal weight” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.

Shares of Priceline Group (NASDAQ:PCLN) traded down 2.54% during mid-day trading on Friday, hitting $1189.7438. 698,121 shares of the company’s stock traded hands. Priceline Group has a 1-year low of $946.51 and a 1-year high of $1378.96. The stock has a 50-day moving average of $1258. and a 200-day moving average of $1238.. The company has a market cap of $62.398 billion and a P/E ratio of 30.57.

Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Monday, August 11th. The company reported $12.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $12.02 by $0.49. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company posted $9.70 earnings per share. The company’s quarterly revenue was up 26.4% on a year-over-year basis. On average, analysts predict that Priceline Group will post $52.45 earnings per share for the current fiscal year.

A number of other firms have also recently commented on PCLN. Analysts at Stifel Nicolaus initiated coverage on shares of Priceline Group in a research note on Wednesday, August 13th. They set a “buy” rating and a $1,600.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Priceline Group in a research note on Tuesday, August 12th. They now have a $1,375.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Priceline Group in a research note on Tuesday, August 12th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Priceline Group has an average rating of “Buy” and an average price target of $1,440.94.

Priceline Group Inc, formerly Priceline Com Incorporated, is an online travel company that offers its customers hotel room reservations at over 295,000 hotels worldwide through the Booking.

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