Zacks Investment Research Lowers TripAdvisor, Inc. (TRIP) to Sell
TripAdvisor, Inc. (NASDAQ:TRIP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “TripAdvisor is one of the largest online travel research companies in the world. The company's second-quarter results were driven by strong growth in the company’s Click-based and Hotel segment revenue. On a year-to-date basis, the stock has underperformed the Industry to which it belongs to. However, the secular growth trend in the online travel space, the company’s solid fundamentals, growth initiatives, partnerships to boost hotel bookings, strong focus on developing its mobile products, expansion into the international restaurant reservation space and improvement in user growth and engagement, especially related to mobile devices are likely to help the company to achieve desired results. Macro headwinds, increasing competition and uncertainty regarding the timeline for recovery of investments remain overhangs.”
Several other analysts have also weighed in on TRIP. Barclays PLC lowered their target price on shares of TripAdvisor from $52.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th. Stifel Nicolaus restated a “hold” rating and issued a $40.00 price target (down from $45.00) on shares of TripAdvisor in a research report on Thursday, August 10th. Royal Bank Of Canada restated a “hold” rating and issued a $47.00 price target on shares of TripAdvisor in a research report on Monday, August 7th. Wells Fargo & Company reaffirmed a “hold” rating on shares of TripAdvisor in a report on Thursday, July 27th. Finally, SunTrust Banks, Inc. started coverage on shares of TripAdvisor in a report on Tuesday, August 15th. They issued a “hold” rating and a $44.00 price target for the company. Nine equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.58.
Shares of TripAdvisor (NASDAQ TRIP) traded up 3.6295% during midday trading on Wednesday, hitting $43.3586. 1,740,442 shares of the company’s stock were exchanged. TripAdvisor has a 1-year low of $35.34 and a 1-year high of $66.13. The stock’s 50 day moving average is $42.51 and its 200-day moving average is $41.12. The stock has a market cap of $6.02 billion, a PE ratio of 65.5955 and a beta of 2.38.
TripAdvisor (NASDAQ:TRIP) last posted its quarterly earnings data on Tuesday, August 8th. The travel company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.05). The business had revenue of $424.00 million for the quarter, compared to analysts’ expectations of $421.66 million. TripAdvisor had a return on equity of 8.62% and a net margin of 6.26%. TripAdvisor’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Analysts predict that TripAdvisor will post $1.13 earnings per share for the current fiscal year.
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In other news, insider Dermot Halpin sold 12,859 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $39.09, for a total transaction of $502,658.31. Following the completion of the transaction, the insider now owns 5,364 shares in the company, valued at approximately $209,678.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.09% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRIP. MSI Financial Services Inc lifted its stake in TripAdvisor by 0.3% during the third quarter. MSI Financial Services Inc now owns 2,387 shares of the travel company’s stock valued at $151,000 after purchasing an additional 6 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in TripAdvisor by 0.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,610 shares of the travel company’s stock worth $228,000 after buying an additional 10 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in TripAdvisor by 0.4% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,552 shares of the travel company’s stock worth $304,000 after buying an additional 26 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its holdings in TripAdvisor by 0.5% during the second quarter. Cutter & CO Brokerage Inc. now owns 6,520 shares of the travel company’s stock worth $249,000 after buying an additional 30 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in TripAdvisor by 0.4% during the third quarter. M&T Bank Corp now owns 9,412 shares of the travel company’s stock worth $595,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.
TripAdvisor Company Profile
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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