The Priceline Group (PCLN) Lowered to “Buy” at BidaskClub

BidaskClub downgraded shares of The Priceline Group (NASDAQ:PCLN) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.

Several other research analysts also recently issued reports on PCLN. MKM Partners reissued a buy rating and set a $2,225.00 price objective (up from $2,050.00) on shares of The Priceline Group in a research report on Monday, August 14th. SunTrust Banks initiated coverage on shares of The Priceline Group in a research report on Tuesday, August 15th. They set a buy rating and a $2,200.00 price objective on the stock. UBS reissued an overweight rating on shares of The Priceline Group in a research report on Thursday, August 24th. Bank of America reissued a buy rating and set a $2,150.00 price objective on shares of The Priceline Group in a research report on Tuesday, September 26th. Finally, Morgan Stanley reissued an overweight rating and set a $2,100.00 price objective (up from $2,050.00) on shares of The Priceline Group in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the company’s stock. The Priceline Group has a consensus rating of Buy and an average price target of $2,002.06.

The Priceline Group (PCLN) traded up $8.20 during midday trading on Tuesday, hitting $1,723.72. 457,200 shares of the company were exchanged, compared to its average volume of 457,722. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52. The stock has a market cap of $83,665.12, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40. The Priceline Group has a 1 year low of $1,459.49 and a 1 year high of $2,067.99.

The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Monday, November 6th. The business services provider reported $35.22 EPS for the quarter, beating the Zacks’ consensus estimate of $34.31 by $0.91. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.34 billion. The Priceline Group had a net margin of 29.20% and a return on equity of 33.02%. The company’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm posted $29.69 EPS. equities analysts expect that The Priceline Group will post 74.42 earnings per share for the current year.

In other The Priceline Group news, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $1,940.00, for a total transaction of $236,680.00. Following the completion of the transaction, the chief executive officer now owns 5,555 shares in the company, valued at $10,776,700. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jan L. Docter sold 1,200 shares of The Priceline Group stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the transaction, the director now owns 142 shares of the company’s stock, valued at approximately $250,561.84. The disclosure for this sale can be found here. Insiders sold 1,567 shares of company stock valued at $2,790,353 in the last quarter. Company insiders own 0.24% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Associates Ltd. raised its position in The Priceline Group by 0.5% during the second quarter. Pinnacle Associates Ltd. now owns 617 shares of the business services provider’s stock worth $1,154,000 after acquiring an additional 3 shares during the last quarter. Winfield Associates Inc. raised its position in The Priceline Group by 0.4% during the second quarter. Winfield Associates Inc. now owns 1,340 shares of the business services provider’s stock worth $2,507,000 after acquiring an additional 5 shares during the last quarter. New Amsterdam Partners LLC NY raised its position in The Priceline Group by 1.5% during the second quarter. New Amsterdam Partners LLC NY now owns 337 shares of the business services provider’s stock worth $630,000 after acquiring an additional 5 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of The Priceline Group by 0.8% during the second quarter. Oppenheimer & Co. Inc. now owns 600 shares of the business services provider’s stock worth $1,122,000 after buying an additional 5 shares in the last quarter. Finally, Argent Trust Co grew its holdings in shares of The Priceline Group by 0.7% during the second quarter. Argent Trust Co now owns 767 shares of the business services provider’s stock worth $1,434,000 after buying an additional 5 shares in the last quarter. Institutional investors own 94.68% of the company’s stock.

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About The Priceline Group

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.

Analyst Recommendations for The Priceline Group (NASDAQ:PCLN)

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