Zacks Investment Research Downgrades TripAdvisor, Inc. (TRIP) to Strong Sell
TripAdvisor, Inc. (NASDAQ:TRIP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “TripAdvisor is one of the largest online travel research companies in the world. Over the last one year, the stock has underperformed the Zacks characterised Electronic Commerce Industry. However, the secular growth trend in the online travel space, the company’s solid fundamentals, growth initiatives, partnerships to boost hotel bookings, strong focus on developing its mobile products, expansion into the international restaurant reservation space and improvement in user growth and engagement, especially related to mobile devices are likely to help the company to achieve desired results. Macro headwinds, increasing competition and uncertainty regarding the timeline for recovery of investments remain overhangs.”
TRIP has been the topic of a number of other reports. ValuEngine lowered shares of TripAdvisor from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Cowen and Company raised shares of TripAdvisor from an “underperform” rating to a “market perform” rating and set a $35.00 price objective on the stock in a research note on Wednesday, July 19th. Vetr lowered shares of TripAdvisor from a “buy” rating to a “hold” rating and set a $42.29 price objective on the stock. in a research note on Monday, April 17th. BidaskClub lowered shares of TripAdvisor from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Bank of America Corporation reaffirmed an “underperform” rating and issued a $35.00 price objective on shares of TripAdvisor in a research note on Sunday, May 28th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.47.
TripAdvisor (TRIP) traded up 0.18% during mid-day trading on Tuesday, hitting $39.63. 2,032,012 shares of the stock traded hands. The firm’s 50-day moving average price is $37.65 and its 200-day moving average price is $42.97. TripAdvisor has a 52 week low of $35.34 and a 52 week high of $70.37. The firm has a market cap of $5.60 billion, a P/E ratio of 55.74 and a beta of 2.36.
TripAdvisor (NASDAQ:TRIP) last posted its quarterly earnings data on Tuesday, May 9th. The travel company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. TripAdvisor had a net margin of 6.87% and a return on equity of 8.87%. The firm had revenue of $372 million during the quarter, compared to the consensus estimate of $376.67 million. During the same period in the prior year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that TripAdvisor will post $1.14 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRIP. Candriam Luxembourg S.C.A. raised its position in TripAdvisor by 62.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 7,314 shares of the travel company’s stock worth $316,000 after buying an additional 2,821 shares during the period. Retirement Systems of Alabama raised its position in TripAdvisor by 14.5% in the first quarter. Retirement Systems of Alabama now owns 165,348 shares of the travel company’s stock worth $7,136,000 after buying an additional 20,959 shares during the period. Nisa Investment Advisors LLC raised its position in TripAdvisor by 32.3% in the first quarter. Nisa Investment Advisors LLC now owns 22,357 shares of the travel company’s stock worth $965,000 after buying an additional 5,455 shares during the period. DnB Asset Management AS acquired a new position in TripAdvisor during the first quarter worth $15,645,000. Finally, CWM LLC raised its position in TripAdvisor by 35.1% in the first quarter. CWM LLC now owns 50,766 shares of the travel company’s stock worth $2,191,000 after buying an additional 13,194 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.
TripAdvisor Company Profile
TripAdvisor, Inc owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company’s Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations.
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