Bank of America Corp Reiterates “Underperform” Rating for Tripadvisor Inc (TRIP)
Tripadvisor Inc (NASDAQ:TRIP)‘s stock had its “underperform” rating reissued by investment analysts at Bank of America Corp in a report issued on Sunday. They currently have a $35.00 price objective on the travel company’s stock. Bank of America Corp’s price target indicates a potential downside of 10.42% from the stock’s previous close.
TRIP has been the topic of several other research reports. Stifel Nicolaus reissued a “hold” rating and set a $47.00 target price on shares of Tripadvisor in a research report on Sunday, February 19th. Evercore ISI reissued a “hold” rating and set a $52.00 target price on shares of Tripadvisor in a research report on Monday, February 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $60.00 target price on shares of Tripadvisor in a research report on Monday, February 13th. Zacks Investment Research downgraded shares of Tripadvisor from a “hold” rating to a “sell” rating in a research report on Tuesday, February 7th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $50.00 target price on shares of Tripadvisor in a research report on Tuesday, February 14th. Six analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $49.00.
Tripadvisor (NASDAQ:TRIP) opened at 39.07 on Friday. Tripadvisor has a 12 month low of $38.32 and a 12 month high of $71.69. The company has a market cap of $5.52 billion, a P/E ratio of 54.95 and a beta of 2.02. The company’s 50-day moving average is $43.77 and its 200-day moving average is $46.81.
Tripadvisor (NASDAQ:TRIP) last issued its quarterly earnings data on Tuesday, May 9th. The travel company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.01. Tripadvisor had a return on equity of 12.67% and a net margin of 8.08%. The firm had revenue of $372 million during the quarter, compared to analysts’ expectations of $376.67 million. During the same period in the previous year, the firm earned $0.33 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Tripadvisor will post $1.17 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Tripadvisor by 1,932.9% in the first quarter. BlackRock Inc. now owns 7,169,686 shares of the travel company’s stock valued at $309,444,000 after buying an additional 6,817,010 shares in the last quarter. SRS Investment Management LLC purchased a new position in Tripadvisor during the first quarter valued at about $125,824,000. Thunderbird Partners LLP purchased a new position in Tripadvisor during the third quarter valued at about $85,749,000. Highfields Capital Management LP boosted its position in Tripadvisor by 64.3% in the fourth quarter. Highfields Capital Management LP now owns 2,555,542 shares of the travel company’s stock valued at $118,500,000 after buying an additional 1,000,000 shares in the last quarter. Finally, EastBay Asset Management LLC purchased a new position in Tripadvisor during the fourth quarter valued at about $23,276,000. Hedge funds and other institutional investors own 86.78% of the company’s stock.
TripAdvisor, Inc owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company’s Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations.
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