The Priceline Group Inc. (NASDAQ:PCLN) had its target price hoisted by Macquarie from $2,000.00 to $2,200.00 in a research note published on Wednesday morning, The Fly reports. The firm currently has a positive rating on the business services provider’s stock.
A number of other research firms have also recently commented on PCLN. Royal Bank Of Canada boosted their price target on The Priceline Group from $2,000.00 to $2,050.00 and gave the stock an outperform rating in a report on Wednesday. Credit Suisse Group reissued an outperform rating and issued a $2,070.00 price target (down from $2,150.00) on shares of The Priceline Group in a report on Wednesday. Jefferies Group LLC reissued a buy rating and issued a $2,250.00 price target on shares of The Priceline Group in a report on Friday, August 4th. Piper Jaffray Companies reaffirmed an overweight rating and set a $110.00 price objective (down from $2,150.00) on shares of The Priceline Group in a report on Friday, July 28th. Finally, Morgan Stanley upped their price objective on The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an overweight rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $1,909.30.
The Priceline Group (PCLN) traded up 0.25% on Wednesday, reaching $1854.17. 620,703 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $1,950.91 and its 200 day moving average price is $1,809.82. The Priceline Group has a 12 month low of $1,392.44 and a 12 month high of $2,067.99. The company has a market cap of $90.96 billion, a PE ratio of 39.38 and a beta of 1.42. The Priceline Group also saw unusually large options trading on Wednesday. Traders bought 17,507 call options on the company. This is an increase of 255% compared to the typical daily volume of 4,928 call options.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping 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 company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm earned $13.93 EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. On average, equities analysts expect that The Priceline Group will post $74.80 EPS for the current fiscal year.
In other news, CEO Gillian Tans sold 122 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jan L. Docter sold 1,500 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the transaction, the director now directly owns 346 shares in the company, valued at approximately $642,753.82. The disclosure for this sale can be found here. Insiders have sold a total of 1,744 shares of company stock worth $3,245,648 in the last three months. Corporate insiders own 0.42% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Koshinski Asset Management Inc. purchased a new position in The Priceline Group during the first quarter worth about $208,000. National Pension Service increased its position in The Priceline Group by 4.3% in the first quarter. National Pension Service now owns 36,039 shares of the business services provider’s stock worth $64,481,000 after buying an additional 1,500 shares during the last quarter. Bank of Montreal Can increased its position in The Priceline Group by 53.5% in the first quarter. Bank of Montreal Can now owns 78,031 shares of the business services provider’s stock worth $138,893,000 after buying an additional 27,206 shares during the last quarter. CrestPoint Capital Management LLC increased its position in The Priceline Group by 25.0% in the first quarter. CrestPoint Capital Management LLC now owns 500 shares of the business services provider’s stock worth $890,000 after buying an additional 100 shares during the last quarter. Finally, Marathon Asset Management LLP increased its position in The Priceline Group by 7.4% in the first quarter. Marathon Asset Management LLP now owns 46,996 shares of the business services provider’s stock worth $83,651,000 after buying an additional 3,249 shares during the last quarter. 95.01% of the stock is currently owned by institutional investors and hedge funds.
About The Priceline Group
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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