Expedia, Inc. (EXPE) Raised to “Hold” at Zacks Investment Research
Expedia, Inc. (NASDAQ:EXPE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Expedia Inc., is one of the leading online travel companies in the world. The company's third-quarter 2017 results missed the Zacks Consensus Estimate on both earnings and revenues. The company's Merchant, Agency, Advertising & Media and Home Away businessess grew year over-year. However, we think that the increased investments in the business, increasing competition across geographies and discounts offered by larger chain hotels can make margin expansion difficult. Year-to-date, the stock has underperformed the industry it beongs to.”
Other research analysts have also recently issued reports about the company. Needham & Company LLC increased their price target on Expedia from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $170.00 price target (up from $135.00) on shares of Expedia in a research note on Tuesday, July 18th. Argus assumed coverage on Expedia in a report on Wednesday, July 5th. They issued a “buy” rating and a $178.00 price objective for the company. Cowen and Company set a $135.00 price objective on Expedia and gave the company a “buy” rating in a report on Sunday. Finally, Oppenheimer Holdings, Inc. increased their price objective on Expedia from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Expedia has an average rating of “Buy” and a consensus target price of $159.61.
Expedia (NASDAQ:EXPE) last announced its quarterly earnings results on Thursday, October 26th. The online travel company reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $2.61 by ($0.10). Expedia had a net margin of 4.09% and a return on equity of 10.71%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company posted $2.41 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis.
In related news, EVP Mark D. Okerstrom sold 12,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $150.00, for a total value of $1,875,000.00. Following the transaction, the executive vice president now owns 71,248 shares of the company’s stock, valued at approximately $10,687,200. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Victor Kaufman sold 35,598 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $149.29, for a total transaction of $5,314,425.42. Following the completion of the transaction, the insider now directly owns 167,673 shares in the company, valued at approximately $25,031,902.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,598 shares of company stock worth $9,069,550. 20.88% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the business. Merriman Wealth Management LLC lifted its position in shares of Expedia by 1.4% during the 2nd quarter. Merriman Wealth Management LLC now owns 2,139 shares of the online travel company’s stock worth $319,000 after buying an additional 29 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Expedia by 0.6% during the 2nd quarter. Blair William & Co. IL now owns 4,998 shares of the online travel company’s stock worth $744,000 after buying an additional 30 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in shares of Expedia by 1.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 2,763 shares of the online travel company’s stock worth $412,000 after buying an additional 35 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Expedia by 0.8% during the 2nd quarter. Nordea Investment Management AB now owns 4,996 shares of the online travel company’s stock worth $744,000 after buying an additional 38 shares in the last quarter. Finally, First United Bank Trust lifted its position in shares of Expedia by 1.2% during the 2nd quarter. First United Bank Trust now owns 5,255 shares of the online travel company’s stock worth $783,000 after buying an additional 60 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.
Expedia, Inc is an online travel company. The Company operates through four segments: Core Online Travel Agencies (Core OTA), trivago, Egencia and HomeAway. The Company’s Core OTA segment provides a range of travel and advertising services to its customers across the world, through a range of brands, including Expedia.com and Hotels.com in the United States, and localized Expedia and Hotels.com Websites throughout the world, Orbitz.com, Expedia Affiliate Network, Hotwire.com, Travelocity, Wotif Group, CarRentals.com and Classic Vacations.
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