Booking (BKNG) Downgraded by Citigroup

Booking (NASDAQ:BKNG) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, The Fly reports.

Other research analysts also recently issued research reports about the company. SunTrust Banks raised their price objective on Booking from $2,350.00 to $2,380.00 and gave the stock a “buy” rating in a research note on Friday, April 13th. Stifel Nicolaus raised their price objective on Booking from $2,222.00 to $2,332.00 and gave the stock a “buy” rating in a research note on Thursday, May 10th. Benchmark downgraded Booking from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. ValuEngine downgraded Booking from a “buy” rating to a “hold” rating in a research note on Friday, May 18th. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $2,175.00 price objective on shares of Booking in a research note on Tuesday, May 8th. They noted that the move was a valuation call. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $2,155.07.

NASDAQ BKNG opened at $1,942.39 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.14 and a current ratio of 2.14. Booking has a 52 week low of $1,630.56 and a 52 week high of $2,228.99. The stock has a market capitalization of $100.11 billion, a PE ratio of 25.22, a P/E/G ratio of 1.60 and a beta of 1.21.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, August 9th. The business services provider reported $20.67 EPS for the quarter, topping the consensus estimate of $17.34 by $3.33. Booking had a return on equity of 22.03% and a net margin of 18.90%. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the company earned $24.39 earnings per share. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. equities analysts predict that Booking will post 88.69 EPS for the current fiscal year.

In related news, CEO Gillian Tans sold 295 shares of Booking stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $2,126.07, for a total transaction of $627,190.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Booking during the 1st quarter valued at approximately $6,448,282,000. Edgewood Management LLC purchased a new position in Booking during the 1st quarter valued at approximately $1,378,227,000. Northern Trust Corp purchased a new position in Booking during the 1st quarter valued at approximately $1,158,506,000. Summit Trail Advisors LLC purchased a new position in Booking during the 1st quarter valued at approximately $458,000. Finally, Brown Advisory Inc. purchased a new position in Booking during the 1st quarter valued at approximately $616,639,000. 91.50% of the stock is currently owned by institutional investors.

Booking Company Profile

Booking Holdings Inc, formerly 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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