TripAdvisor, Inc. (TRIP) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of TripAdvisor, Inc. (NASDAQ:TRIP) from a hold rating to a sell rating in a report released on Wednesday morning.
According to Zacks, “TripAdvisor is one of the largest online travel research companies in the world. The company's second-quarter results were driven by strong growth in the company’s Click-based and Hotel segment revenue. On a year-to-date basis, the stock has underperformed the Industry to which it belongs to. However, the secular growth trend in the online travel space, the company’s solid fundamentals, growth initiatives, partnerships to boost hotel bookings, strong focus on developing its mobile products, expansion into the international restaurant reservation space and improvement in user growth and engagement, especially related to mobile devices are likely to help the company to achieve desired results. Macro headwinds, increasing competition and uncertainty regarding the timeline for recovery of investments remain overhangs.”
A number of other research firms also recently weighed in on TRIP. Royal Bank Of Canada reiterated a hold rating and issued a $47.00 price target on shares of TripAdvisor in a research report on Monday, August 7th. SunTrust Banks, Inc. initiated coverage on shares of TripAdvisor in a research report on Tuesday, August 15th. They issued a hold rating and a $44.00 price target for the company. Credit Suisse Group downgraded shares of TripAdvisor from a neutral rating to an underperform rating and dropped their price target for the company from $40.00 to $34.00 in a research report on Monday, June 19th. Cowen and Company reiterated a hold rating and issued a $42.00 price target on shares of TripAdvisor in a research report on Tuesday, September 12th. Finally, Citigroup Inc. reiterated a neutral rating and issued a $41.00 price target (up from $39.00) on shares of TripAdvisor in a research report on Tuesday, October 3rd. Nine investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $42.83.
TripAdvisor (TRIP) traded down 4.59% during midday trading on Wednesday, hitting $41.61. The stock had a trading volume of 2,415,759 shares. TripAdvisor has a 1-year low of $35.34 and a 1-year high of $65.56. The company’s 50 day moving average is $42.75 and its 200 day moving average is $41.15. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 62.95 and a beta of 2.38.
TripAdvisor (NASDAQ:TRIP) last released its quarterly earnings results on Tuesday, August 8th. The travel company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). TripAdvisor had a net margin of 6.26% and a return on equity of 8.62%. The business had revenue of $424.00 million during the quarter, compared to analyst estimates of $421.66 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that TripAdvisor will post $1.13 earnings per share for the current fiscal year.
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In other TripAdvisor news, insider Dermot Halpin sold 12,859 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $39.09, for a total transaction of $502,658.31. Following the sale, the insider now owns 5,364 shares of the company’s stock, valued at $209,678.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.09% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. bought a new stake in shares of TripAdvisor in the first quarter worth $113,000. Nordea Investment Management AB grew its stake in shares of TripAdvisor by 3.5% in the first quarter. Nordea Investment Management AB now owns 4,597 shares of the travel company’s stock worth $198,000 after purchasing an additional 157 shares during the last quarter. KCG Holdings Inc. bought a new stake in shares of TripAdvisor in the first quarter worth $205,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of TripAdvisor by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,303 shares of the travel company’s stock worth $229,000 after purchasing an additional 377 shares during the last quarter. Finally, BlueMountain Capital Management LLC bought a new stake in shares of TripAdvisor in the second quarter worth $242,000. 86.18% of the stock is currently owned by institutional investors.
TripAdvisor Company Profile
TripAdvisor, Inc owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company’s Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations.
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