The Priceline Group Inc. (PCLN) Earns Buy Rating from SunTrust Banks, Inc.
The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reaffirmed by SunTrust Banks, Inc. in a report released on Wednesday. They presently have a $2,200.00 price objective on the business services provider’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 16.48% from the company’s previous close.
PCLN has been the subject of a number of other reports. UBS AG restated an “overweight” rating on shares of The Priceline Group in a research note on Thursday, August 24th. Bank of America Corporation reiterated a “buy” rating and issued a $2,150.00 target price on shares of The Priceline Group in a research note on Tuesday, September 26th. Credit Suisse Group set a $2,150.00 target price on The Priceline Group and gave the company a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of The Priceline Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of The Priceline Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,942.71.
Shares of The Priceline Group (NASDAQ PCLN) traded up 1.13% during mid-day trading on Wednesday, reaching $1888.70. 379,530 shares of the company traded hands. The firm has a 50 day moving average of $1,837.47 and a 200-day moving average of $1,857.74. The Priceline Group has a 52 week low of $1,422.19 and a 52 week high of $2,067.99. The stock has a market capitalization of $92.66 billion, a PE ratio of 40.11 and a beta of 1.47.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, beating the Zacks’ 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 the consensus estimate of $2.99 billion. During the same period last year, the business posted $13.93 EPS. The business’s revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts expect that The Priceline Group will post $74.71 EPS for the current fiscal year.
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In other news, Director Jan L. Docter sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total transaction of $4,689,750.00. Following the completion of the sale, the director now owns 320 shares of the company’s stock, valued at $600,288. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gillian Tans sold 122 shares of the business’s 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 approximately $11,544,761.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,867 shares of company stock valued at $5,384,080. 0.24% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PCLN. Waldron LP increased its stake in The Priceline Group by 68.9% during the 1st quarter. Waldron LP now owns 412 shares of the business services provider’s stock worth $732,000 after buying an additional 168 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of The Priceline Group by 1,257.1% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 190 shares of the business services provider’s stock valued at $337,000 after acquiring an additional 176 shares during the last quarter. Sawtooth Solutions LLC raised its holdings in shares of The Priceline Group by 28.9% during the first quarter. Sawtooth Solutions LLC now owns 1,223 shares of the business services provider’s stock valued at $2,177,000 after acquiring an additional 274 shares during the last quarter. Virginia Retirement Systems ET AL raised its holdings in shares of The Priceline Group by 5.3% during the first quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the business services provider’s stock valued at $31,861,000 after acquiring an additional 900 shares during the last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of The Priceline Group by 124.0% during the first quarter. CIBC World Markets Inc. now owns 7,066 shares of the business services provider’s stock valued at $12,577,000 after acquiring an additional 3,912 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.
The Priceline Group Company Profile
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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