The Priceline Group Inc. (PCLN) Given Average Recommendation of “Buy” by Analysts
The Priceline Group Inc. (NASDAQ:PCLN) has earned an average recommendation of “Buy” from the thirty-four research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $1,920.77.
PCLN has been the subject of a number of analyst reports. BidaskClub raised The Priceline Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Goldman Sachs Group, Inc. (The) increased their price target on The Priceline Group from $1,750.00 to $1,850.00 and gave the company a “neutral” rating in a research report on Wednesday, May 10th. J P Morgan Chase & Co raised their target price on The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research report on Wednesday, May 10th. Morgan Stanley raised their target price on The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Finally, Deutsche Bank AG raised their target price on The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a research report on Monday, May 8th.
In other news, Director Jan L. Docter sold 2,500 shares of The Priceline Group stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the completion of the sale, the director now owns 320 shares in the company, valued at approximately $600,288. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $1,814.00, for a total value of $221,308.00. Following the sale, the chief executive officer now owns 6,044 shares of the company’s stock, valued at approximately $10,963,816. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,367 shares of company stock valued at $8,166,685. Corporate insiders own 0.42% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank increased its stake in shares of The Priceline Group by 17.2% in the second quarter. Toronto Dominion Bank now owns 16,862 shares of the business services provider’s stock worth $31,535,000 after buying an additional 2,479 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of The Priceline Group during the second quarter worth about $133,000. Public Employees Retirement System of Ohio increased its stake in shares of The Priceline Group by 6.6% in the second quarter. Public Employees Retirement System of Ohio now owns 40,098 shares of the business services provider’s stock worth $75,004,000 after buying an additional 2,485 shares during the period. Covington Capital Management increased its stake in shares of The Priceline Group by 1.2% in the second quarter. Covington Capital Management now owns 858 shares of the business services provider’s stock worth $1,605,000 after buying an additional 10 shares during the period. Finally, Colony Group LLC acquired a new stake in shares of The Priceline Group during the second quarter worth about $556,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.
Shares of The Priceline Group (PCLN) opened at 1810.00 on Friday. The firm has a market capitalization of $88.80 billion, a P/E ratio of 38.44 and a beta of 1.42. The Priceline Group has a one year low of $1,402.67 and a one year high of $2,067.99. The firm’s 50-day moving average is $1,946.27 and its 200 day moving average is $1,818.99.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating analysts’ consensus estimates of $14.25 by $0.89. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The Priceline Group’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $13.93 EPS. Equities research analysts predict that The Priceline Group will post $74.77 earnings per share for the current year.
The Priceline Group Company Profile
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.
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