Investment analysts at SunTrust Banks, Inc. began coverage on shares of The Priceline Group Inc. (NASDAQ:PCLN) in a report released on Tuesday, The Fly reports. The brokerage set a “buy” rating on the business services provider’s stock.

Several other brokerages also recently issued reports on PCLN. Morgan Stanley lifted their price target on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Cowen and Company reaffirmed an “outperform” rating and issued a $2,000.00 target price on shares of The Priceline Group in a research note on Tuesday, May 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $2,300.00 target price (up from $2,250.00) on shares of The Priceline Group in a research note on Thursday, August 10th. Vetr raised shares of The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 target price for the company in a research note on Wednesday, May 17th. Finally, J P Morgan Chase & Co boosted their target price on shares of The Priceline Group from $1,940.00 to $2,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $1,915.13.

Shares of The Priceline Group (NASDAQ:PCLN) traded down 0.700% during midday trading on Tuesday, hitting $1860.835. 368,819 shares of the company’s stock traded hands. The firm has a market capitalization of $91.29 billion, a price-to-earnings ratio of 39.522 and a beta of 1.42. The Priceline Group has a 1-year low of $1,402.67 and a 1-year high of $2,067.99. The company has a 50 day moving average price of $1,950.45 and a 200 day moving average price of $1,817.26.

The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the firm posted $13.93 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Equities analysts anticipate that The Priceline Group will post $74.91 earnings per share for the current year.

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In related news, Director Jan L. Docter sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the transaction, the director now directly owns 320 shares in the company, valued at $600,288. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the completion of the transaction, the director now owns 346 shares in the company, valued at $642,753.82. The disclosure for this sale can be found here. Insiders sold 4,244 shares of company stock worth $7,935,398 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank purchased a new stake in shares of The Priceline Group during the first quarter worth about $235,000. Regent Investment Management LLC increased its stake in shares of The Priceline Group by 82.4% in the first quarter. Regent Investment Management LLC now owns 3,551 shares of the business services provider’s stock worth $6,321,000 after buying an additional 1,604 shares during the last quarter. Carderock Capital Management Inc. increased its stake in shares of The Priceline Group by 163.3% in the first quarter. Carderock Capital Management Inc. now owns 1,659 shares of the business services provider’s stock worth $2,952,000 after buying an additional 1,029 shares during the last quarter. Beese Fulmer Investment Management Inc. increased its stake in shares of The Priceline Group by 26.0% in the first quarter. Beese Fulmer Investment Management Inc. now owns 1,247 shares of the business services provider’s stock worth $2,220,000 after buying an additional 257 shares during the last quarter. Finally, DnB Asset Management AS increased its stake in shares of The Priceline Group by 3.3% in the first quarter. DnB Asset Management AS now owns 15,531 shares of the business services provider’s stock worth $27,645,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.

About The Priceline Group

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.

The Fly

Analyst Recommendations for The Priceline Group (NASDAQ:PCLN)

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