The Priceline Group Inc. (PCLN) Stock Rating Reaffirmed by SunTrust Banks, Inc.
The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks, Inc. in a research note issued to investors on Wednesday. They currently have a $2,200.00 price objective on the business services provider’s stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 15.21% from the company’s current price.
Several other research firms have also recently issued reports on PCLN. Macquarie raised their price objective on The Priceline Group from $2,000.00 to $2,200.00 and gave the stock a “positive” rating in a report on Wednesday, August 9th. Deutsche Bank AG restated a “hold” rating and set a $2,075.00 price objective (up previously from $1,950.00) on shares of The Priceline Group in a report on Wednesday, August 9th. Royal Bank Of Canada raised their price objective on The Priceline Group from $2,000.00 to $2,050.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Wells Fargo & Company restated a “hold” rating and set a $1,850.00 price objective on shares of The Priceline Group in a report on Wednesday, August 9th. Finally, Barclays PLC restated an “overweight” rating on shares of The Priceline Group in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,952.67.
The Priceline Group (NASDAQ PCLN) opened at 1909.61 on Wednesday. The Priceline Group has a 52 week low of $1,422.19 and a 52 week high of $2,067.99. The firm has a market cap of $93.68 billion, a price-to-earnings ratio of 40.56 and a beta of 1.47. The stock has a 50 day moving average price of $1,839.80 and a 200 day moving average price of $1,858.33.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data 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 Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm earned $13.93 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. Equities research analysts expect that The Priceline Group will post $74.71 EPS for the current year.
In other news, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the sale, the chief executive officer now directly owns 5,922 shares of the company’s stock, valued at $11,544,761.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jan L. Docter sold 2,500 shares of The Priceline Group stock in a transaction dated 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 sale, the director now directly owns 320 shares in the company, valued at $600,288. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,867 shares of company stock worth $5,384,080. Corporate insiders own 0.24% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of The Priceline Group during the second quarter worth about $101,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of The Priceline Group during the second quarter worth about $105,000. Capital Advisors Ltd. LLC purchased a new stake in shares of The Priceline Group during the second quarter worth about $112,000. Assetmark Inc. increased its position in shares of The Priceline Group by 12.5% during the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after acquiring an additional 7 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of The Priceline Group by 29.6% during the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock worth $129,000 after acquiring an additional 16 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
About The 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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