Trading Report: Today, Jefferies Group Reaffirmed Buy Rating for The Priceline Group Inc. (PCLN)

Today, Jefferies Group Reaffirmed Buy Rating for The Priceline Group Inc. (PCLN)

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group in a research note issued on Tuesday. They currently have a $1,800.00 price target on the stock, up from their prior price target of $1,700.00. Jefferies Group’s price target would indicate a potential upside of 18.29% from the company’s current price.

Several other research analysts have also recently weighed in on PCLN. Credit Suisse Group AG restated a “buy” rating and set a $1,660.00 price target (down from $1,750.00) on shares of The Priceline Group in a report on Tuesday, November 8th. Zacks Investment Research upgraded shares of The Priceline Group from a “hold” rating to a “buy” rating and set a $1,575.00 price target on the stock in a report on Thursday, August 11th. 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. JPMorgan Chase & Co. restated an “overweight” rating on shares of The Priceline Group in a report on Friday, August 5th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $1,560.00 price target (up from $1,453.49) on shares of The Priceline Group in a report on Thursday, September 29th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $1,622.45.

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

The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Monday, November 7th. The company reported $31.18 EPS for the quarter, topping analysts’ consensus estimates of $29.88 by $1.30. The business 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 quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company posted $25.35 earnings per share. On average, analysts predict that The Priceline Group will post $64.44 EPS 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 131 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $1,499.97, for a total transaction of $196,496.07. Following the sale, the chief executive officer now owns 5,526 shares of the company’s stock, valued at $8,288,834.22. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in The Priceline Group by 1.7% in the second quarter. Vanguard Group Inc. now owns 2,994,181 shares of the company’s stock worth $3,737,965,000 after buying an additional 51,477 shares in the last quarter. Capital World Investors raised its stake in The Priceline Group by 27.7% in the third quarter. Capital World Investors now owns 1,578,582 shares of the company’s stock worth $2,322,868,000 after buying an additional 342,746 shares in the last quarter. Capital Research Global Investors raised its stake in The Priceline Group by 1.8% in the third quarter. Capital Research Global Investors now owns 1,384,305 shares of the company’s stock worth $2,036,991,000 after buying an additional 24,569 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in The Priceline Group by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,299,947 shares of the company’s stock worth $1,912,859,000 after buying an additional 13,257 shares in the last quarter. Finally, Lone Pine Capital LLC raised its stake in The Priceline Group by 41.6% in the second quarter. Lone Pine Capital LLC now owns 1,120,758 shares of the company’s stock worth $1,399,165,000 after buying an additional 329,121 shares in the last quarter. Institutional investors own 94.10% of the company’s stock.

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