The Priceline Group Inc. (PCLN) Price Target Increased to $1,750.00 by Analysts at Royal Bank Of Canada
The Priceline Group Inc. (NASDAQ:PCLN) had its target price hoisted by Royal Bank Of Canada from $1,600.00 to $1,750.00 in a report released on Friday. The firm currently has an outperform rating on the stock.
Other equities analysts have also recently issued research reports about the company. Jefferies Group reiterated a buy rating on shares of The Priceline Group in a report on Monday, July 11th. Cantor Fitzgerald reiterated a buy rating and set a $1,510.00 price objective (down previously from $1,525.00) on shares of The Priceline Group in a report on Tuesday, July 5th. Tigress Financial reiterated a buy rating on shares of The Priceline Group in a report on Thursday, June 30th. Piper Jaffray Cos. reissued a buy rating and issued a $1,500.00 target price on shares of The Priceline Group in a research report on Tuesday, June 21st. Finally, Vetr lowered The Priceline Group from a strong-buy rating to a buy rating and set a $1,362.34 target price on the stock. in a research report on Wednesday, June 29th. Six research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $1,538.19.
The Priceline Group (NASDAQ:PCLN) traded down 0.19% during trading on Friday, reaching $1477.00. The company had a trading volume of 176,489 shares. The company has a market capitalization of $73.00 billion, a PE ratio of 28.09 and a beta of 1.62. The company has a 50 day moving average price of $1,445.54 and a 200 day moving average price of $1,348.86. The Priceline Group has a 52-week low of $954.02 and a 52-week high of $1,501.79.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings data on Thursday, August 4th. The company reported $13.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $12.69 by $1.24. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the business posted $12.45 EPS. The Priceline Group’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts forecast that The Priceline Group will post $68.57 EPS for the current fiscal year.
In other news, insider Glenn D. Fogel sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $1,497.95, for a total transaction of $1,497,950.00. Following the completion of the sale, the insider now directly owns 24,991 shares in the company, valued at approximately $37,435,268.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffery H. Boyd sold 3,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $1,353.90, for a total value of $4,061,700.00. Following the sale, the chief executive officer now owns 94,488 shares of the company’s stock, valued at $127,927,303.20. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PCLN. Envestnet Asset Management Inc. increased its stake in The Priceline Group by 19.7% in the first quarter. Envestnet Asset Management Inc. now owns 25,164 shares of the company’s stock worth $32,435,000 after buying an additional 4,141 shares during the last quarter. Hillman Co. boosted its position in The Priceline Group by 29.2% in the second quarter. Hillman Co. now owns 22,929 shares of the company’s stock worth $28,625,000 after buying an additional 5,186 shares during the period. Orbis Allan Gray Ltd acquired a new position in The Priceline Group during the first quarter worth approximately $251,864,000. Adage Capital Partners GP L.L.C. boosted its position in The Priceline Group by 74.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 74,100 shares of the company’s stock worth $95,512,000 after buying an additional 31,600 shares during the period. Finally, Artemis Investment Management LLP boosted its position in The Priceline Group by 76.1% in the second quarter. Artemis Investment Management LLP now owns 14,116 shares of the company’s stock worth $17,630,000 after buying an additional 6,100 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant 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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