The Priceline Group Inc. (PCLN) Receives $1,936.40 Average PT from Analysts
Shares of The Priceline Group Inc. (NASDAQ:PCLN) have earned a consensus recommendation of “Buy” from the thirty-four analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twenty-seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $1,944.62.
PCLN has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating on shares of The Priceline Group in a report on Wednesday, June 21st. BidaskClub upgraded shares of The Priceline Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Zacks Investment Research downgraded shares of The Priceline Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Morgan Stanley boosted their target price on shares of The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $110.00 target price (down from $2,150.00) on shares of The Priceline Group in a report on Friday, July 28th.
In other news, Director Jan L. Docter sold 2,500 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the completion of the sale, the director now directly owns 320 shares in the company, valued at $600,288. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total transaction of $225,208.34. Following the completion of the sale, the chief executive officer now owns 5,677 shares of the company’s stock, valued at $10,479,571.69. The disclosure for this sale can be found here. Insiders sold 2,867 shares of company stock valued at $5,384,080 over the last quarter. Corporate insiders own 0.24% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. 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 buying an additional 79,784 shares during the last quarter. FMR LLC lifted its stake in shares of The Priceline Group by 3.8% in the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock worth $3,275,411,000 after buying an additional 67,569 shares during the last quarter. 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 buying an additional 34,959 shares during the last quarter. 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 buying an additional 108,187 shares during the last quarter. Finally, Harbour Capital Advisors LLC lifted its stake in shares of The Priceline Group by 210,283.2% in the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock worth $523,000 after buying an additional 977,817 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.
The Priceline Group (PCLN) traded up 0.19% during mid-day trading on Friday, hitting $1920.20. 221,397 shares of the stock traded hands. The stock has a 50 day moving average price of $1,849.43 and a 200 day moving average price of $1,863.49. The Priceline Group has a 12-month low of $1,422.19 and a 12-month high of $2,067.99. The firm has a market cap of $94.20 billion, a PE ratio of 40.78 and a beta of 1.47.
The Priceline Group (NASDAQ:PCLN) last released its earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping analysts’ consensus estimates of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm earned $13.93 EPS. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, analysts expect that The Priceline Group will post $74.79 earnings per share for the current fiscal year.
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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.
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