Today: Today, Goldman Sachs Group Inc. Reiterates Hold Rating for The Priceline Group Inc. (PCLN)

Today, Goldman Sachs Group Inc. Reiterates Hold Rating for The Priceline Group Inc. (PCLN)

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “hold” rating reissued by Goldman Sachs Group Inc. in a report issued on Tuesday. They currently have a $1,400.00 price target on the stock. Goldman Sachs Group Inc.’s target price indicates a potential downside of 8.00% from the stock’s previous close.

Several other research firms have also commented on PCLN. RBC Capital Markets restated a “buy” rating and issued a $1,750.00 price objective (up previously from $1,600.00) on shares of The Priceline Group in a research report on Friday, October 7th. Royal Bank Of Canada upped their price objective on The Priceline Group from $1,600.00 to $1,750.00 and gave the stock an “outperform” rating in a research report on Friday, October 7th. Zacks Investment Research lowered The Priceline Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Barclays PLC restated a “buy” rating and issued a $1,500.00 price objective (down previously from $1,550.00) on shares of The Priceline Group in a research report on Tuesday, November 8th. Finally, Benchmark Co. restated a “buy” rating and issued a $1,800.00 price objective (up previously from $1,600.00) on shares of The Priceline Group in a research report on Tuesday, November 8th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $1,622.45.

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

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

In related news, CEO Jeffery H. Boyd sold 3,000 shares of The Priceline Group stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $1,472.08, for a total value of $4,416,240.00. Following the sale, the chief executive officer now directly owns 85,537 shares in the company, valued at $125,917,306.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffery H. Boyd sold 2,814 shares of The Priceline Group stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $1,467.98, for a total value of $4,130,895.72. Following the completion of the sale, the chief executive officer now owns 88,939 shares in the company, valued at $130,560,673.22. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in The Priceline Group by 0.8% in the third quarter. Quadrant Capital Group LLC now owns 129 shares of the company’s stock worth $180,000 after buying an additional 1 shares during the period. Bangor Savings Bank increased its stake in The Priceline Group by 0.3% in the second quarter. Bangor Savings Bank now owns 727 shares of the company’s stock worth $908,000 after buying an additional 2 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in The Priceline Group by 1.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 106 shares of the company’s stock worth $156,000 after buying an additional 2 shares during the period. Tdam USA Inc. increased its stake in The Priceline Group by 0.6% in the second quarter. Tdam USA Inc. now owns 497 shares of the company’s stock worth $620,000 after buying an additional 3 shares during the period. Finally, Capital Analysts LLC increased its stake in The Priceline Group by 1.3% in the second quarter. Capital Analysts LLC now owns 318 shares of the company’s stock worth $397,000 after buying an additional 4 shares during the period. Hedge funds and other institutional investors own 94.10% of the company’s stock.

The Priceline Group Company Profile

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