The Priceline Group Inc. (PCLN) Stock Rating Reaffirmed by Barclays PLC
The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reissued by analysts at Barclays PLC in a research note issued on Wednesday. They currently have a $2,150.00 price objective on the business services provider’s stock. Barclays PLC’s price objective suggests a potential upside of 11.97% from the company’s previous close.
A number of other analysts have also recently issued reports on PCLN. BidaskClub raised The Priceline Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley increased their price objective on The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Zacks Investment Research cut The Priceline Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Credit Suisse Group set a $2,150.00 price objective on The Priceline Group and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, UBS AG reissued an “overweight” rating on shares of The Priceline Group in a report on Thursday, August 24th. One investment 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 given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,961.00.
The Priceline Group (PCLN) traded up 0.19% during midday trading on Wednesday, hitting $1920.20. The stock had a trading volume of 221,397 shares. The Priceline Group has a 52 week low of $1,422.19 and a 52 week high of $2,067.99. The company has a 50-day moving average price of $1,849.43 and a 200-day moving average price of $1,863.49. The stock has a market cap of $94.20 billion, a P/E ratio of 40.78 and a beta of 1.47.
The Priceline Group (NASDAQ:PCLN) last issued 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 Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the firm earned $13.93 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities analysts expect that The Priceline Group will post $74.79 EPS for the current year.
In related news, Director Jan L. Docter sold 2,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 320 shares in the company, valued at approximately $600,288. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total value of $225,208.34. Following the transaction, the chief executive officer now owns 5,677 shares in the company, valued at $10,479,571.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,867 shares of company stock worth $5,384,080. 0.24% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meag Munich Ergo Kapitalanlagegesellschaft bought a new stake in shares of The Priceline Group in the 3rd quarter worth approximately $2,990,000. Gerstein Fisher grew its position in shares of The Priceline Group by 5.2% in the 3rd quarter. Gerstein Fisher now owns 1,568 shares of the business services provider’s stock worth $1,939,000 after buying an additional 78 shares during the last quarter. MUFG Americas grew its position in shares of The Priceline Group by 2.4% in the 3rd quarter. MUFG Americas now owns 2,414 shares of the business services provider’s stock worth $2,986,000 after buying an additional 57 shares during the last quarter. Janus Capital Management grew its position in shares of The Priceline Group by 2.3% in the 3rd quarter. Janus Capital Management now owns 679,244 shares of the business services provider’s stock worth $840,135,000 after buying an additional 15,276 shares during the last quarter. Finally, Lawrence B. Cohen bought a new stake in shares of The Priceline Group in the 4th quarter worth approximately $1,451,000. Institutional investors and hedge funds own 94.45% of the company’s stock.
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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