RBC Capital Markets restated their buy rating on shares of The Priceline Group Inc. (NASDAQ:PCLN) in a report issued on Friday. They currently have a $1,750.00 target price on the stock, up from their previous target price of $1,600.00.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of The Priceline Group from a buy rating to a hold rating in a research report on Wednesday, October 5th. Vetr lowered shares of The Priceline Group from a strong-buy rating to a buy rating and set a $1,598.32 price target on the stock. in a research report on Thursday, September 29th. Cantor Fitzgerald restated a buy rating and issued a $1,560.00 price target (up from $1,453.49) on shares of The Priceline Group in a research report on Thursday, September 29th. Piper Jaffray Cos. restated a buy rating on shares of The Priceline Group in a research report on Thursday, August 25th. Finally, Jefferies Group restated a buy rating and issued a $1,700.00 price target on shares of The Priceline Group in a research report on Tuesday, August 23rd. Six analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $1,538.19.
The Priceline Group (NASDAQ:PCLN) opened at 1454.84 on Friday. The Priceline Group has a 52-week low of $954.02 and a 52-week high of $1,501.79. The firm has a market cap of $71.91 billion, a price-to-earnings ratio of 27.67 and a beta of 1.62. The firm has a 50-day moving average of $1,448.70 and a 200 day moving average of $1,352.16.
The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Thursday, August 4th. The company reported $13.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $12.69 by $1.24. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.58 billion. The Priceline Group had a net margin of 27.08% and a return on equity of 32.93%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $12.45 earnings per share. On average, equities research analysts forecast that The Priceline Group will post $68.57 earnings per share for the current year.
In other news, CEO Gillian Tans sold 130 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $1,431.98, for a total transaction of $186,157.40. Following the completion of the sale, the chief executive officer now owns 5,788 shares of the company’s stock, valued at $8,288,300.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenn D. Fogel sold 1,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $1,434.75, for a total transaction of $1,434,750.00. Following the sale, the insider now directly owns 25,131 shares of the company’s stock, valued at approximately $36,056,702.25. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCLN. BlueMountain Capital Management LLC increased its position in The Priceline Group by 65.3% in the first quarter. BlueMountain Capital Management LLC now owns 81 shares of the company’s stock worth $104,000 after buying an additional 32 shares during the period. Global X Management Co. LLC increased its position in The Priceline Group by 416.7% in the second quarter. Global X Management Co. LLC now owns 93 shares of the company’s stock worth $116,000 after buying an additional 75 shares during the period. Integrated Investment Consultants LLC increased its position in The Priceline Group by 18.1% in the second quarter. Integrated Investment Consultants LLC now owns 98 shares of the company’s stock worth $122,000 after buying an additional 15 shares during the period. Quadrant Capital Group LLC increased its position in The Priceline Group by 24.3% in the second quarter. Quadrant Capital Group LLC now owns 128 shares of the company’s stock worth $151,000 after buying an additional 25 shares during the period. Finally, Cupps Capital Management LLC acquired a new position in The Priceline Group during the second quarter worth $157,000. 93.99% of the stock is owned by institutional investors and hedge funds.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant 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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