Trading Report: Today, Bank of America Corp. Reaffirmed “Buy” Rating for The Priceline Group Inc. (PCLN)

Today, Bank of America Corp. Reaffirmed “Buy” Rating for The Priceline Group Inc. (PCLN)

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reiterated by equities researchers at Bank of America Corp. in a research note issued to investors on Tuesday. They currently have a $1,580.00 price target on the stock. Bank of America Corp.’s price target would indicate a potential upside of 3.83% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada boosted their price target on shares of The Priceline Group from $1,600.00 to $1,750.00 and gave the stock an “outperform” rating in a report on Friday, October 7th. Jefferies Group restated a “buy” rating and set a $1,700.00 price target on shares of The Priceline Group in a report on Tuesday, October 25th. Susquehanna assumed coverage on shares of The Priceline Group in a report on Wednesday, October 19th. They set a “positive” rating and a $1,700.00 price target on the stock. Cantor Fitzgerald restated a “buy” rating on shares of The Priceline Group in a report on Sunday, August 28th. Finally, RBC Capital Markets restated a “buy” rating and set a $1,750.00 price target (up from $1,600.00) on shares of The Priceline Group in a report on Friday, October 7th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The Priceline Group has a consensus rating of “Buy” and an average target price of $1,622.45.

Shares of The Priceline Group (NASDAQ:PCLN) traded up 0.05% on Tuesday, hitting $1521.68. 174,009 shares of the company’s stock were exchanged. The Priceline Group has a 12 month low of $954.02 and a 12 month high of $1,600.93. The stock’s 50 day moving average is $1,485.47 and its 200 day moving average is $1,391.83. The firm has a market cap of $75.09 billion, a P/E ratio of 38.84 and a beta of 1.69.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data on Monday, November 7th. The company reported $31.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $29.88 by $1.30. The firm earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.61 billion. The Priceline Group had a net margin of 18.91% and a return on equity of 34.70%. The business’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $25.35 earnings per share. On average, equities analysts predict that The Priceline Group will post $64.44 earnings per share for the current year.

In related news, CEO Jeffery H. Boyd sold 2,814 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $1,467.98, for a total transaction of $4,130,895.72. Following the completion of the sale, the chief executive officer now directly owns 88,939 shares in the company, valued at approximately $130,560,673.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gillian Tans sold 130 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $1,431.98, for a total transaction of $186,157.40. Following the sale, the chief executive officer now owns 5,788 shares of the company’s stock, valued at $8,288,300.24. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. LPL Financial LLC raised its stake in The Priceline Group by 25.1% in the first quarter. LPL Financial LLC now owns 6,158 shares of the company’s stock worth $7,877,000 after buying an additional 1,236 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of The Priceline Group by 23.9% in the first quarter. Jones Financial Companies Lllp now owns 3,869 shares of the company’s stock valued at $4,987,000 after buying an additional 746 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of The Priceline Group during the first quarter valued at approximately $1,013,000. Sterling Ridge Capital Management LP bought a new position in shares of The Priceline Group during the first quarter valued at approximately $1,344,000. Finally, Magnetar Financial LLC raised its position in shares of The Priceline Group by 342.5% in the first quarter. Magnetar Financial LLC now owns 1,770 shares of the company’s stock valued at $2,281,000 after buying an additional 1,370 shares during the period. Institutional investors own 94.10% of the company’s stock.

The Priceline Group Company Profile

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