Vetr Lowers Priceline Group (PCLN) to Hold

Vetr cut shares of Priceline Group (NASDAQ:PCLN) from a buy rating to a hold rating in a research note issued to investors on Monday morning. Vetr currently has $1,915.34 target price on the business services provider’s stock.

A number of other research firms also recently weighed in on PCLN. Zacks Investment Research downgraded shares of Priceline Group from a hold rating to a sell rating in a research note on Tuesday, January 2nd. Oppenheimer restated a buy rating and issued a $1,950.00 price target (down from $2,100.00) on shares of Priceline Group in a research note on Tuesday, November 7th. BidaskClub upgraded shares of Priceline Group from a buy rating to a strong-buy rating in a research note on Thursday, December 21st. Credit Suisse Group restated an outperform rating and issued a $2,000.00 price target (down from $2,070.00) on shares of Priceline Group in a research note on Tuesday, November 7th. Finally, Morgan Stanley restated an overweight rating and issued a $1,900.00 price target (down from $2,100.00) on shares of Priceline Group in a research note on Tuesday, November 7th. Ten research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Priceline Group has an average rating of Buy and an average target price of $2,010.80.

Priceline Group (NASDAQ PCLN) traded up $13.48 during mid-day trading on Monday, reaching $1,865.29. 369,617 shares of the company’s stock traded hands, compared to its average volume of 394,941. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.68. Priceline Group has a 52-week low of $1,516.00 and a 52-week high of $2,067.99. The company has a market cap of $91,510.00, a price-to-earnings ratio of 26.14, a P/E/G ratio of 1.28 and a beta of 1.39.

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

In related news, Director Jan L. Docter sold 1,200 shares of Priceline Group stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the sale, the director now directly owns 142 shares in the company, valued at approximately $250,561.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gillian Tans sold 122 shares of Priceline Group stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $1,772.94, for a total transaction of $216,298.68. Following the sale, the chief executive officer now owns 5,310 shares in the company, valued at $9,414,311.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,567 shares of company stock worth $2,781,444. 0.24% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D acquired a new position in shares of Priceline Group in the 3rd quarter worth approximately $36,616,000. Norinchukin Bank The lifted its position in shares of Priceline Group by 4.0% in the 2nd quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock worth $11,115,000 after purchasing an additional 228 shares during the period. Equitec Proprietary Markets LLC acquired a new position in shares of Priceline Group in the 3rd quarter worth approximately $549,000. Troy Asset Management Ltd acquired a new position in shares of Priceline Group in the 3rd quarter worth approximately $3,295,000. Finally, Profund Advisors LLC lifted its position in shares of Priceline Group by 9.8% in the 2nd quarter. Profund Advisors LLC now owns 4,431 shares of the business services provider’s stock worth $8,288,000 after purchasing an additional 395 shares during the period. Institutional investors and hedge funds own 94.39% of the company’s stock.

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About 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Priceline Group (NASDAQ:PCLN)

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