Traders Buy Shares of Ctrip.com International, Ltd. (CTRP) on Weakness After Analyst Downgrade
Investors bought shares of Ctrip.com International, Ltd. (NASDAQ:CTRP) on weakness during trading on Thursday after Benchmark lowered their price target on the stock from $58.00 to $52.00. $136.54 million flowed into the stock on the tick-up and $97.54 million flowed out of the stock on the tick-down, for a money net flow of $39.00 million into the stock. Of all equities tracked, Ctrip.com International had the 17th highest net in-flow for the day. Ctrip.com International traded down ($1.09) for the day and closed at $46.46
Several other research analysts also recently weighed in on CTRP. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $62.00 target price on shares of Ctrip.com International in a research note on Thursday, August 31st. Cowen and Company reaffirmed a “buy” rating and set a $53.00 target price (down from $60.00) on shares of Ctrip.com International in a research note on Monday, August 28th. BidaskClub downgraded Ctrip.com International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Instinet reaffirmed a “buy” rating and set a $61.00 target price on shares of Ctrip.com International in a research note on Tuesday, September 5th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $58.00 target price on shares of Ctrip.com International in a research note on Sunday, September 3rd. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $57.42.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Highstreet Asset Management Inc. acquired a new position in Ctrip.com International in the 2nd quarter valued at $121,000. Parallel Advisors LLC raised its stake in Ctrip.com International by 13.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,057 shares of the company’s stock valued at $123,000 after purchasing an additional 237 shares during the last quarter. Huntington National Bank raised its stake in Ctrip.com International by 40.5% in the 2nd quarter. Huntington National Bank now owns 2,325 shares of the company’s stock valued at $125,000 after purchasing an additional 670 shares during the last quarter. IFP Advisors Inc raised its stake in Ctrip.com International by 6.7% in the 2nd quarter. IFP Advisors Inc now owns 2,516 shares of the company’s stock valued at $136,000 after purchasing an additional 157 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Ctrip.com International by 1.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,646 shares of the company’s stock valued at $143,000 after purchasing an additional 46 shares during the last quarter. 67.63% of the stock is owned by hedge funds and other institutional investors.
Ctrip.com International (NASDAQ:CTRP) last released its quarterly earnings results on Wednesday, August 30th. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.11). Ctrip.com International had a return on equity of 3.00% and a net margin of 8.92%. The company had revenue of $946.38 million during the quarter, compared to analyst estimates of $929.55 million. During the same period last year, the firm earned $0.02 earnings per share. The business’s revenue was up 42.5% compared to the same quarter last year.
TRADEMARK VIOLATION NOTICE: This piece was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.watchlistnews.com/traders-buy-shares-of-ctrip-com-international-ltd-ctrp-on-weakness-after-analyst-downgrade/1674653.html.
About Ctrip.com International
Ctrip.com International, Ltd. (Ctrip) is a travel service provider for accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. The Company aggregates hotel and transportation information to enable business and leisure travelers to make bookings. It helps leisure travelers book tour packages and guided tours, and helps corporate clients manage their travel requirements.
Receive News & Ratings for Ctrip.com International Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ctrip.com International Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.