The Priceline Group Inc. (PCLN) Receives “Buy” Rating from Raymond James Financial, Inc.
The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reissued by analysts at Raymond James Financial, Inc. in a report issued on Wednesday.
A number of other analysts also recently weighed in on PCLN. UBS AG restated a “buy” rating and issued a $2,100.00 price objective (up from $1,870.00) on shares of The Priceline Group in a report on Thursday, May 11th. Stifel Nicolaus restated a “buy” rating and issued a $2,100.00 price objective on shares of The Priceline Group in a report on Thursday. Jefferies Group LLC restated a “buy” rating and issued a $2,300.00 price objective (up from $2,250.00) on shares of The Priceline Group in a report on Thursday. Royal Bank Of Canada increased their price objective on The Priceline Group from $2,000.00 to $2,050.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays PLC restated an “overweight” rating on shares of The Priceline Group in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $1,907.63.
Shares of The Priceline Group (NASDAQ:PCLN) opened at 1906.80 on Wednesday. The Priceline Group has a 1-year low of $1,392.44 and a 1-year high of $2,067.99. The firm has a market capitalization of $93.70 billion, a PE ratio of 43.05 and a beta of 1.42. The stock has a 50 day moving average price of $1,951.68 and a 200 day moving average price of $1,807.38. The Priceline Group also saw unusually large options trading activity on Tuesday. Investors purchased 15,301 put options on the stock. This represents an increase of 209% compared to the typical volume of 4,950 put options.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.25 by $0.89. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 34.28%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $13.93 earnings per share. Equities research analysts anticipate that The Priceline Group will post $74.80 earnings per share for the current fiscal year.
In related news, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total value of $237,835.34. Following the transaction, the chief executive officer now owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jan L. Docter sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares in the company, valued at approximately $642,753.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,744 shares of company stock worth $3,245,648. 0.42% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. acquired a new position in shares of The Priceline Group during the second quarter valued at $105,000. Hartford Financial Management Inc. acquired a new position in shares of The Priceline Group during the first quarter valued at $106,000. Webster Bank N. A. boosted its position in shares of The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock valued at $110,000 after buying an additional 12 shares during the last quarter. Assetmark Inc. boosted its position in shares of The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares during the last quarter. Finally, Capital Advisors Ltd. LLC acquired a new position in shares of The Priceline Group during the second quarter valued at $112,000. 95.01% of the stock is currently 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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