Investors Buy Ctrip.com International Ltd. (CTRP) on Weakness
Traders bought shares of Ctrip.com International Ltd. (NASDAQ:CTRP) on weakness during trading on Tuesday. $22.73 million flowed into the stock on the tick-up and $15.06 million flowed out of the stock on the tick-down, for a money net flow of $7.67 million into the stock. Of all equities tracked, Ctrip.com International had the 36th highest net in-flow for the day. Ctrip.com International traded down ($0.30) for the day and closed at $47.14
Several research firms recently weighed in on CTRP. Bank of America Corp. set a $53.00 price objective on shares of Ctrip.com International and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley boosted their price objective on shares of Ctrip.com International from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 25th. Brean Capital restated a “buy” rating on shares of Ctrip.com International in a research report on Tuesday, August 23rd. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $55.00 price objective on shares of Ctrip.com International in a research report on Thursday, August 18th. Finally, Goldman Sachs Group Inc. began coverage on shares of Ctrip.com International in a research report on Monday, July 25th. They issued a “buy” rating and a $52.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.65.
The company has a 50-day moving average price of $44.61 and a 200-day moving average price of $43.34. The firm has a market capitalization of $21.44 billion and a P/E ratio of 106.40.
Ctrip.com International (NASDAQ:CTRP) last released its quarterly earnings results on Wednesday, June 15th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.62) by $3.71. Analysts anticipate that Ctrip.com International Ltd. will post ($0.62) earnings per share for the current year.
Several institutional investors have added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in Ctrip.com International by 288.6% in the fourth quarter. Bank of Montreal Can now owns 231,216 shares of the company’s stock valued at $10,713,000 after buying an additional 171,710 shares during the last quarter. BlackRock Advisors LLC increased its position in Ctrip.com International by 142.5% in the fourth quarter. BlackRock Advisors LLC now owns 304,389 shares of the company’s stock valued at $14,102,000 after buying an additional 178,855 shares during the last quarter. Finally, Airain ltd acquired a new position in Ctrip.com International during the fourth quarter valued at about $1,104,000.
Ctrip.com International, Ltd. is a travel service provider for hotel accommodations, transportation ticketing services, packaged tours and corporate travel management in China. The Company aggregates hotel and flight information to enable business and leisure travelers to make informed bookings. The Company also helps customers book tour packages and guided tours.
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