BidaskClub Lowers The Priceline Group (PCLN) to Buy

BidaskClub downgraded shares of The Priceline Group (NASDAQ:PCLN) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.

PCLN has been the subject of a number of other research reports. KeyCorp reissued a hold rating on shares of The Priceline Group in a report on Thursday, November 16th. Morgan Stanley reissued an overweight rating and set a $2,100.00 target price (up previously from $2,050.00) on shares of The Priceline Group in a report on Monday, October 2nd. UBS reaffirmed an overweight rating on shares of The Priceline Group in a research note on Thursday, August 24th. Royal Bank of Canada boosted their price target on The Priceline Group from $2,050.00 to $2,100.00 and gave the company an outperform rating in a research note on Tuesday, November 7th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $2,000.00 price target (down previously from $2,200.00) on shares of The Priceline Group in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The Priceline Group has an average rating of Buy and an average price target of $2,002.06.

The Priceline Group (PCLN) traded up $18.31 on Tuesday, hitting $1,760.92. The stock had a trading volume of 459,000 shares, compared to its average volume of 457,429. The Priceline Group has a 12 month low of $1,459.49 and a 12 month high of $2,067.99. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $84,986.29, a P/E ratio of 23.41, a P/E/G ratio of 1.38 and a beta of 1.40.

The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $34.31 by $0.91. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the firm earned $29.69 earnings per share. The company’s revenue was up 20.1% on a year-over-year basis. sell-side analysts expect that The Priceline Group will post 74.42 EPS for the current year.

In related news, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $1,940.00, for a total value of $236,680.00. Following the transaction, the chief executive officer now directly owns 5,555 shares of the company’s stock, valued at $10,776,700. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jan L. Docter sold 1,200 shares of The Priceline Group stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the completion of the transaction, the director now directly owns 142 shares in the company, valued at $250,561.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,445 shares of company stock worth $2,565,145. Company insiders own 0.24% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Harding Loevner LP lifted its stake in shares of The Priceline Group by 2,593.1% in the third quarter. Harding Loevner LP now owns 5,254,041 shares of the business services provider’s stock worth $347,846,000 after acquiring an additional 5,058,945 shares during the period. Vanguard Group Inc. lifted its stake in shares of The Priceline Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 3,284,464 shares of the business services provider’s stock worth $6,143,655,000 after acquiring an additional 79,784 shares during the period. Capital World Investors lifted its stake in shares of The Priceline Group by 2.1% in the second quarter. Capital World Investors now owns 1,723,152 shares of the business services provider’s stock worth $3,223,190,000 after acquiring an additional 34,959 shares during the period. Capital Research Global Investors lifted its stake in shares of The Priceline Group by 7.1% in the second quarter. Capital Research Global Investors now owns 1,622,668 shares of the business services provider’s stock worth $3,035,233,000 after acquiring an additional 108,187 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of The Priceline Group by 6.4% in the second quarter. Jennison Associates LLC now owns 862,773 shares of the business services provider’s stock worth $1,613,834,000 after acquiring an additional 52,133 shares during the period. 94.68% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for The Priceline Group (NASDAQ:PCLN)

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