Booking’s (BKNG) Outperform Rating Reiterated at Royal Bank of Canada

Booking (NASDAQ:BKNG)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Briefing.com Automated Import reports. They presently have a $2,100.00 target price on the business services provider’s stock, down from their prior target price of $2,150.00. Royal Bank of Canada’s price target points to a potential upside of 8.35% from the stock’s previous close.

A number of other brokerages also recently issued reports on BKNG. Ascendiant Capital Markets set a $2,000.00 price objective on Booking and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Barclays reiterated an “overweight” rating and issued a $2,140.00 target price (up from $2,080.00) on shares of Booking in a report on Thursday. Piper Jaffray Companies reiterated a “neutral” rating and issued a $1,900.00 target price (up from $1,800.00) on shares of Booking in a report on Thursday. Citigroup upgraded Booking from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $1,800.00 to $1,745.02 in a report on Thursday, May 23rd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $1,995.00 target price on shares of Booking in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. Booking currently has a consensus rating of “Hold” and an average price target of $1,976.30.

Shares of BKNG traded up $116.60 during mid-day trading on Thursday, reaching $1,938.16. 538,155 shares of the company were exchanged, compared to its average volume of 278,742. Booking has a 52 week low of $1,606.27 and a 52 week high of $2,084.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $77.43 billion, a PE ratio of 20.93, a PEG ratio of 1.47 and a beta of 1.14. The stock has a 50 day simple moving average of $1,882.84.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $23.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $22.80 by $0.79. Booking had a return on equity of 48.32% and a net margin of 28.79%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the company earned $20.13 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts predict that Booking will post 100.96 EPS for the current fiscal year.

In other Booking news, CEO Gillian Tans sold 606 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $1,791.14, for a total value of $1,085,430.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey E. Epstein sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $1,755.75, for a total value of $438,937.50. The disclosure for this sale can be found here. Insiders sold 1,462 shares of company stock valued at $2,602,200 in the last three months. Insiders own 0.24% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Weaver Consulting Group purchased a new position in shares of Booking during the first quarter valued at approximately $25,000. Guidant Wealth Advisors purchased a new position in shares of Booking during the first quarter valued at approximately $26,000. Truvestments Capital LLC purchased a new position in shares of Booking during the first quarter valued at approximately $44,000. Horan Capital Advisors LLC. purchased a new position in shares of Booking during the first quarter valued at approximately $49,000. Finally, TRUE Private Wealth Advisors purchased a new position in shares of Booking during the second quarter valued at approximately $50,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

About Booking

Booking Holdings Inc, formerly 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.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

Analyst Recommendations for Booking (NASDAQ:BKNG)

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