The Priceline Group Inc. (PCLN) Stock Rating Reaffirmed by SunTrust Banks, Inc.
The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating restated by investment analysts at SunTrust Banks, Inc. in a note issued to investors on Wednesday. They currently have a $2,200.00 price objective on the business services provider’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 16.48% from the stock’s previous close.
A number of other research analysts also recently weighed in on the company. UBS AG reiterated a “buy” rating and set a $2,100.00 price target on shares of The Priceline Group in a report on Thursday, August 10th. Piper Jaffray Companies reissued an “overweight” rating and issued a $110.00 price objective (down from $2,150.00) on shares of The Priceline Group in a research note on Friday, July 28th. Barclays PLC reissued an “overweight” rating on shares of The Priceline Group in a research note on Wednesday, August 9th. Susquehanna Bancshares Inc restated a “positive” rating and set a $2,200.00 price objective (up from $2,150.00) on shares of The Priceline Group in a research report on Thursday, August 10th. Finally, Deutsche Bank AG restated a “hold” rating and set a $2,075.00 price objective (up from $1,950.00) on shares of The Priceline Group in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $1,942.71.
The Priceline Group (NASDAQ PCLN) traded up 1.13% during trading on Wednesday, reaching $1888.70. The company’s stock had a trading volume of 379,530 shares. The Priceline Group has a 52 week low of $1,422.19 and a 52 week high of $2,067.99. The firm has a market capitalization of $92.66 billion, a P/E ratio of 40.11 and a beta of 1.47. The firm has a 50-day moving average price of $1,837.47 and a 200-day moving average price of $1,857.74.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the company posted $13.93 EPS. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities analysts anticipate that The Priceline Group will post $74.71 EPS for the current fiscal year.
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In related news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the transaction, the chief executive officer now owns 5,922 shares of the company’s stock, valued at $11,544,761.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jan L. Docter sold 2,500 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the transaction, the director now owns 320 shares of the company’s stock, valued at $600,288. The disclosure for this sale can be found here. Insiders sold 2,867 shares of company stock valued at $5,384,080 over the last three months. 0.24% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of PCLN. Harvest Fund Management Co. Ltd bought a new position in shares of The Priceline Group during the 2nd quarter worth about $101,000. Shine Investment Advisory Services Inc. bought a new stake in shares of The Priceline Group in the second quarter valued at about $105,000. Assetmark Inc. lifted its stake in shares of The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares during the period. Capital Advisors Ltd. LLC bought a new stake in shares of The Priceline Group in the second quarter valued at about $112,000. Finally, Proficio Capital Partners LLC lifted its stake in shares of The Priceline Group by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after buying an additional 16 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.
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.
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