TripAdvisor, Inc. (TRIP) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of TripAdvisor, Inc. (NASDAQ:TRIP) from a sell rating to a hold rating in a research note published on Thursday morning.
According to Zacks, “TripAdvisor is one of the largest online travel research companies in the world. The company's first quarter earnings and revenue missed the Zacks Consensus Estimate. Also, over the last one year, the stock has underperformed the Zacks characterised Electronic Commerce Industry. 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.”
Other equities research analysts have also recently issued reports about the company. ValuEngine cut TripAdvisor from a hold rating to a sell rating in a research note on Friday, June 2nd. Cowen and Company upgraded TripAdvisor from an underperform rating to a market perform rating and set a $35.00 price objective on the stock in a research note on Wednesday, July 19th. Vetr cut TripAdvisor from a buy rating to a hold rating and set a $42.29 price objective on the stock. in a research note on Monday, April 17th. Bank of America Corporation restated an underperform rating and issued a $35.00 price objective on shares of TripAdvisor in a research note on Sunday, May 28th. Finally, Hilliard Lyons upgraded TripAdvisor from a neutral rating to a buy rating and boosted their price objective for the company from $45.00 to $65.00 in a research note on Friday, May 12th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $48.17.
TripAdvisor (TRIP) opened at 39.38 on Thursday. TripAdvisor has a 12 month low of $35.34 and a 12 month high of $70.70. The stock has a 50 day moving average of $37.62 and a 200 day moving average of $43.30. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 55.39 and a beta of 2.35.
TripAdvisor (NASDAQ:TRIP) last released its earnings results on Tuesday, May 9th. The travel company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $372 million for the quarter, compared to the consensus estimate of $376.67 million. TripAdvisor had a return on equity of 8.87% and a net margin of 6.87%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Equities analysts anticipate that TripAdvisor will post $1.14 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of TRIP. Oppenheimer Asset Management Inc. acquired a new stake in TripAdvisor during the first quarter valued at $113,000. Mn Services Vermogensbeheer B.V. raised its stake in TripAdvisor by 6.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,213 shares of the travel company’s stock valued at $130,000 after buying an additional 201 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in TripAdvisor by 4.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,967 shares of the travel company’s stock valued at $171,000 after buying an additional 160 shares during the period. Sphera Funds Management LTD. acquired a new stake in TripAdvisor during the first quarter valued at $173,000. Finally, Nordea Investment Management AB raised its stake in TripAdvisor by 3.5% in the first quarter. Nordea Investment Management AB now owns 4,597 shares of the travel company’s stock valued at $198,000 after buying an additional 157 shares during the period. 89.37% of the stock is owned by institutional investors and hedge funds.
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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