Ctrip.com International, Ltd. (NASDAQ:CTRP) Downgraded by Zacks Investment Research to “Hold”
Ctrip.com International, Ltd. (NASDAQ:CTRP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
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 commented on CTRP. Cowen and Company restated a “buy” rating and set a $60.00 target price on shares of Ctrip.com International in a research report on Wednesday, July 19th. ValuEngine raised Ctrip.com International from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus upped their price target on 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 reaffirmed a “buy” rating and set a $64.00 price target on shares of Ctrip.com International in a research note on Monday, May 15th. Finally, Daiwa Capital Markets reaffirmed a “buy” rating and set a $65.00 price target (up from $55.00) on shares of Ctrip.com International in a research note on Sunday, May 14th. Four equities research 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. The stock currently has an average rating of “Buy” and a consensus target price of $57.73.
Shares of Ctrip.com International (CTRP) traded up 0.95% during midday trading on Tuesday, reaching $58.46. The company had a trading volume of 1,789,972 shares. Ctrip.com International has a 12-month low of $39.71 and a 12-month high of $60.65. The stock has a market capitalization of $30.37 billion, a PE ratio of 847.25 and a beta of 1.71. The stock’s 50 day moving average is $56.18 and its 200-day moving average is $51.17.
Several hedge funds have recently modified their holdings of the stock. EQIS Capital Management acquired a new stake in shares of Ctrip.com International during the fourth quarter worth approximately $637,000. Janus Capital Management increased its stake in shares of Ctrip.com International by 4.7% in the third quarter. Janus Capital Management now owns 4,776,550 shares of the company’s stock worth $150,891,000 after buying an additional 215,082 shares during the last quarter. Verde Servico Internacionais acquired a new stake in shares of Ctrip.com International during the fourth quarter worth approximately $1,768,779,000. Fisher Asset Management increased its stake in shares of Ctrip.com International by 8.9% in the fourth quarter. Fisher Asset Management now owns 8,839,325 shares of the company’s stock worth $409,526,000 after buying an additional 722,513 shares during the last quarter. Finally, DNB Asset Management increased its stake in shares of Ctrip.com International by 27.2% in the fourth quarter. DNB Asset Management now owns 1,364,282 shares of the company’s stock worth $63,207,185 after buying an additional 291,716 shares during the last quarter. 66.01% of the stock is owned by institutional investors.
About Ctrip.com International
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.
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