The Priceline Group Inc. (PCLN) Given “Overweight” Rating at Morgan Stanley
Morgan Stanley reiterated their overweight rating on shares of The Priceline Group Inc. (NASDAQ:PCLN) in a research report released on Monday morning. They currently have a $2,100.00 price objective on the business services provider’s stock, up from their prior price objective of $2,050.00.
Other equities analysts also recently issued research reports about the company. UBS AG reiterated an overweight rating on shares of The Priceline Group in a research report on Thursday, August 24th. Bank of America Corporation restated a buy rating and set a $2,150.00 target price on shares of The Priceline Group in a report on Tuesday, September 26th. SunTrust Banks, Inc. assumed coverage on The Priceline Group in a report on Tuesday, August 15th. They set a buy rating and a $2,200.00 target price on the stock. Credit Suisse Group set a $2,150.00 target price on The Priceline Group and gave the company a buy rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research lowered The Priceline Group from a hold rating to a sell rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $1,942.71.
Shares of The Priceline Group (PCLN) opened at 1862.60 on Monday. 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 market capitalization of $91.38 billion, a PE ratio of 39.56 and a beta of 1.47. The company’s 50 day moving average is $1,837.65 and its 200-day moving average is $1,857.05.
The Priceline Group (NASDAQ:PCLN) last announced its earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping the consensus estimate of $14.25 by $0.89. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The Priceline Group’s revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned $13.93 EPS. On average, analysts expect that The Priceline Group will post $74.70 EPS for the current fiscal year.
In other The Priceline Group news, 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 completion of the transaction, the chief executive officer now directly owns 5,677 shares in the company, valued at $10,479,571.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jan L. Docter sold 2,500 shares of the business’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 value of $4,689,750.00. Following the transaction, the director now directly owns 320 shares in the company, valued at approximately $600,288. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,867 shares of company stock worth $5,384,080. 0.24% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in The Priceline Group in the second quarter valued at $101,000. Shine Investment Advisory Services Inc. bought a new position in shares of The Priceline Group in the 2nd quarter valued at about $105,000. Assetmark Inc. grew its position in shares of The Priceline Group by 12.5% in the 1st quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 7 shares during the period. Capital Advisors Ltd. LLC bought a new position in shares of The Priceline Group in the 2nd quarter valued at about $112,000. Finally, Proficio Capital Partners LLC grew its position in shares of The Priceline Group by 29.6% in the 1st quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 16 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.
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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