Priceline Group (NASDAQ:PCLN) Rating Lowered to Hold at Vetr

Vetr cut shares of Priceline Group (NASDAQ:PCLN) from a buy rating to a hold rating in a research note released on Monday, January 8th. Vetr currently has $1,915.34 price objective on the business services provider’s stock.

Several other analysts have also issued reports on PCLN. Bank of America restated a buy rating and issued a $2,150.00 target price on shares of Priceline Group in a research note on Tuesday, September 26th. Morgan Stanley reiterated an overweight rating and issued a $2,100.00 price target (up from $2,050.00) on shares of Priceline Group in a research report on Monday, October 2nd. SunTrust Banks reiterated a buy rating and issued a $2,200.00 price target on shares of Priceline Group in a research report on Wednesday, October 4th. Barclays restated a buy rating and set a $2,150.00 target price on shares of Priceline Group in a research report on Wednesday, October 11th. Finally, Deutsche Bank restated a hold rating and set a $2,050.00 target price on shares of Priceline Group in a research report on Tuesday, October 24th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Priceline Group currently has an average rating of Buy and a consensus target price of $2,025.31.

Shares of Priceline Group (NASDAQ:PCLN) opened at $1,859.10 on Monday. The company has a market capitalization of $90,668.30, a price-to-earnings ratio of 26.04, a P/E/G ratio of 1.38 and a beta of 1.38. Priceline Group has a fifty-two week low of $1,571.32 and a fifty-two week high of $2,067.99. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.68.

Priceline Group (NASDAQ:PCLN) last issued its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $34.31 by $0.91. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.34 billion. Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted $29.69 earnings per share. analysts anticipate that Priceline Group will post 74.41 EPS for the current fiscal year.

In related news, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $1,930.71, for a total value of $235,546.62. Following the sale, the chief executive officer now owns 5,188 shares in the company, valued at approximately $10,016,523.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jan L. Docter sold 1,200 shares of the company’s 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 sale, the director now owns 142 shares in the company, valued at approximately $250,561.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,567 shares of company stock worth $2,780,310 in the last quarter. Company insiders own 0.24% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Harding Loevner LP boosted its stake in Priceline Group by 2,593.1% during the 3rd quarter. Harding Loevner LP now owns 5,254,041 shares of the business services provider’s stock valued at $347,846,000 after purchasing an additional 5,058,945 shares during the last quarter. Vanguard Group Inc. boosted its stake in Priceline Group by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,284,464 shares of the business services provider’s stock valued at $6,143,655,000 after purchasing an additional 79,784 shares during the last quarter. Capital World Investors boosted its stake in Priceline Group by 2.1% during the 2nd quarter. Capital World Investors now owns 1,723,152 shares of the business services provider’s stock valued at $3,223,190,000 after purchasing an additional 34,959 shares during the last quarter. Capital Research Global Investors boosted its stake in Priceline Group by 7.1% during the 2nd quarter. Capital Research Global Investors now owns 1,622,668 shares of the business services provider’s stock valued at $3,035,233,000 after purchasing an additional 108,187 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Priceline Group by 654.1% during the 2nd quarter. Janus Henderson Group PLC now owns 642,567 shares of the business services provider’s stock valued at $1,201,971,000 after purchasing an additional 557,358 shares during the last quarter. Institutional investors and hedge funds own 94.72% of the company’s stock.

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About 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Priceline Group (NASDAQ:PCLN)

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