Priceline Group (PCLN) Price Target Raised to $2,100.00
Priceline Group (NASDAQ:PCLN) had its target price upped by Oppenheimer from $1,950.00 to $2,100.00 in a research report sent to investors on Tuesday morning. The firm currently has an outperform rating on the business services provider’s stock. Oppenheimer also issued estimates for Priceline Group’s Q4 2017 earnings at $13.95 EPS, Q1 2018 earnings at $9.81 EPS, Q2 2018 earnings at $15.79 EPS, Q3 2018 earnings at $41.50 EPS, Q4 2018 earnings at $16.82 EPS and FY2019 earnings at $94.18 EPS.
A number of other analysts have also weighed in on PCLN. Bank of America restated a buy rating and set a $2,150.00 target price on shares of Priceline Group in a research note on Tuesday, September 26th. Morgan Stanley reaffirmed an overweight rating and issued a $2,100.00 price target (up from $2,050.00) on shares of Priceline Group in a report on Monday, October 2nd. SunTrust Banks reaffirmed a buy rating and issued a $2,200.00 price target on shares of Priceline Group in a report on Wednesday, October 4th. Barclays reaffirmed a buy rating and issued a $2,150.00 price target on shares of Priceline Group in a report on Wednesday, October 11th. Finally, Deutsche Bank reaffirmed a hold rating and issued a $2,050.00 price target on shares of Priceline Group in a report on Tuesday, October 24th. Eleven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $2,010.80.
Priceline Group (NASDAQ:PCLN) traded up $7.62 during mid-day trading on Tuesday, hitting $1,872.91. 274,200 shares of the company were exchanged, compared to its average volume of 401,040. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52. Priceline Group has a 12-month low of $1,516.00 and a 12-month high of $2,067.99. The stock has a market capitalization of $91,880.00, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.39.
In other Priceline Group news, CEO Gillian Tans sold 122 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $1,940.00, for a total value of $236,680.00. Following the completion of the transaction, the chief executive officer now owns 5,555 shares in the company, valued at $10,776,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jan L. Docter sold 1,200 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the completion of the transaction, the director now owns 142 shares of the company’s stock, valued at approximately $250,561.84. The disclosure for this sale can be found here. Insiders sold 1,567 shares of company stock valued at $2,781,444 in the last quarter. 0.24% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D purchased a new position in shares of Priceline Group in the third quarter valued at $36,616,000. Norinchukin Bank The increased its position in shares of Priceline Group by 4.0% in the second quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock valued at $11,115,000 after buying an additional 228 shares in the last quarter. Equitec Proprietary Markets LLC purchased a new position in shares of Priceline Group in the third quarter valued at $549,000. Troy Asset Management Ltd purchased a new position in shares of Priceline Group in the third quarter valued at $3,295,000. Finally, Profund Advisors LLC increased its position in shares of Priceline Group by 9.8% in the second quarter. Profund Advisors LLC now owns 4,431 shares of the business services provider’s stock valued at $8,288,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 94.39% of the company’s stock.
About Priceline Group
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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