Expedia, Inc. (EXPE) Stock Rating Upgraded by Zacks Investment Research
Expedia, Inc. (NASDAQ:EXPE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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.”
Several other analysts have also issued reports on the stock. Cowen and Company reiterated a “buy” rating and set a $170.00 price target on shares of Expedia in a research report on Sunday, August 27th. Deutsche Bank AG reiterated a “buy” rating and set a $175.00 price target (up previously from $158.00) on shares of Expedia in a research report on Wednesday, July 26th. Morgan Stanley reiterated an “equal weight” rating and set a $170.00 price target (up previously from $135.00) on shares of Expedia in a research report on Tuesday, July 18th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $190.00 price target on shares of Expedia in a research report on Monday, August 28th. Finally, BidaskClub upgraded shares of Expedia from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Expedia currently has an average rating of “Buy” and an average price target of $159.61.
Expedia (NASDAQ:EXPE) last announced its earnings results on Thursday, October 26th. The online travel company reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.61 by ($0.10). Expedia had a return on equity of 10.71% and a net margin of 4.09%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the company earned $2.41 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis.
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In other Expedia news, Vice Chairman Victor Kaufman sold 119,575 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $123.67, for a total value of $14,787,840.25. Following the completion of the transaction, the insider now owns 169,575 shares of the company’s stock, valued at approximately $20,971,340.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark D. Okerstrom sold 12,500 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $150.41, for a total transaction of $1,880,125.00. Following the completion of the sale, the executive vice president now directly owns 71,248 shares of the company’s stock, valued at approximately $10,716,411.68. The disclosure for this sale can be found here. In the last three months, insiders sold 180,173 shares of company stock valued at $23,857,391. Corporate insiders own 20.95% of the company’s stock.
Several institutional investors have recently made changes to their positions in EXPE. Balyasny Asset Management LLC purchased a new stake in shares of Expedia in the 2nd quarter valued at $107,942,000. Jennison Associates LLC raised its holdings in Expedia by 17.6% during the 2nd quarter. Jennison Associates LLC now owns 3,998,193 shares of the online travel company’s stock valued at $595,531,000 after buying an additional 599,037 shares during the last quarter. Fred Alger Management Inc. bought a new stake in Expedia during the 2nd quarter valued at $86,569,000. Artisan Partners Limited Partnership raised its holdings in Expedia by 61.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,437,446 shares of the online travel company’s stock worth $214,108,000 after purchasing an additional 549,366 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Expedia by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,045,217 shares of the online travel company’s stock worth $1,794,135,000 after purchasing an additional 428,656 shares in the last quarter. 84.48% of the stock is owned by 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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