SunTrust Banks Reiterates Buy Rating for Expedia Group (EXPE)
Expedia Group (NASDAQ:EXPE)‘s stock had its “buy” rating restated by SunTrust Banks in a report issued on Tuesday. They presently have a $180.00 price objective on the online travel company’s stock. SunTrust Banks’ price target points to a potential upside of 49.32% from the company’s previous close.
The analysts wrote, “We maintain a BUY/$180 PT following analysis of 3Q data, which indicate flat/modestly-higher room night growth Q/Q, along with signs of progress on growth initiatives. Our analysis suggests that despite easy Y/Y comps for 3Q and improving conversions (based on our analysis), a meaningful pick-up in room night will likely be held back by weak meta-search and EXPE’s focus on honing its ad efficiency (by leveraging cloud-based analytics). We see solid progress on mgt’s push to expand selection, with our analysis of data sample suggesting ~50-60K hotel listings additions (consistent with 1H18). The net impact on room nights growth: Our proprietary analysis indicates 0-200bps Q/Q pickup in room nights for EXPE’s global brands (Expedia, Hotels.com) in 3Q, implying 12-14% Y/Y reported room night growth for 3Q (Cons. is ~14%, we think Buy-side is lower).””
Several other research firms have also issued reports on EXPE. Zacks Investment Research upgraded shares of Expedia Group from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, August 1st. Wells Fargo & Co increased their price target on shares of Expedia Group from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, June 21st. KeyCorp increased their price target on shares of Expedia Group from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Credit Suisse Group increased their price target on shares of Expedia Group from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, DA Davidson set a $160.00 price target on shares of Expedia Group and gave the stock a “buy” rating in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the company. Expedia Group has an average rating of “Buy” and an average target price of $147.87.
Expedia Group (NASDAQ:EXPE) last posted its quarterly earnings results on Thursday, July 26th. The online travel company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.83. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.88 billion. Expedia Group had a net margin of 2.54% and a return on equity of 9.48%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. Equities analysts expect that Expedia Group will post 4.42 EPS for the current year.
In other Expedia Group news, insider Lance A. Soliday sold 3,269 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $138.07, for a total value of $451,350.83. Following the sale, the insider now owns 7,143 shares in the company, valued at $986,234.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig A. Jacobson sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $133.48, for a total transaction of $467,180.00. Following the completion of the sale, the director now owns 31,764 shares in the company, valued at approximately $4,239,858.72. The disclosure for this sale can be found here. Insiders sold 8,316 shares of company stock worth $1,125,813 in the last 90 days. Company insiders own 20.96% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Carillon Tower Advisers Inc. raised its stake in shares of Expedia Group by 4.1% during the second quarter. Carillon Tower Advisers Inc. now owns 86,000 shares of the online travel company’s stock valued at $10,336,000 after acquiring an additional 3,350 shares during the last quarter. Employees Retirement System of Texas raised its stake in shares of Expedia Group by 950.0% during the second quarter. Employees Retirement System of Texas now owns 21,000 shares of the online travel company’s stock valued at $2,524,000 after acquiring an additional 19,000 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Expedia Group during the second quarter valued at $713,000. Hilltop Holdings Inc. bought a new position in shares of Expedia Group during the second quarter valued at $206,000. Finally, Marcus Capital LLC raised its stake in shares of Expedia Group by 6.5% during the second quarter. Marcus Capital LLC now owns 6,150 shares of the online travel company’s stock valued at $739,000 after acquiring an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.
About Expedia Group
Expedia Group, Inc, together with its subsidiaries, operates as an online travel company in the United States and internationally. It operates through Core OTA, Trivago, HomeAway, and Egencia segments. The company facilitates the booking of hotel rooms, airline seats, car rentals, and destination services from its travel suppliers; and acts as an agent in the transactions.
Further Reading: Asset Allocation Models, Which is Right For You?
Receive News & Ratings for Expedia Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expedia Group and related companies with MarketBeat.com's FREE daily email newsletter.