Trading Report: Today, The Priceline Group Inc. (PCLN) Stock Rating Reaffirm by Morgan Stanley

Today, The Priceline Group Inc. (PCLN) Stock Rating Reaffirm by Morgan Stanley

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reaffirmed by stock analysts at Morgan Stanley in a note issued to investors on Tuesday. They currently have a $1,600.00 price objective on the stock. Morgan Stanley’s price target would suggest a potential upside of 5.15% from the company’s previous close.

Several other analysts have also issued reports on PCLN. Royal Bank Of Canada increased their price objective on 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 reiterated a “buy” rating and set a $1,700.00 price objective on shares of The Priceline Group in a report on Tuesday, October 25th. Susquehanna began coverage on The Priceline Group in a report on Wednesday, October 19th. They set a “positive” rating and a $1,700.00 price objective for the company. Cantor Fitzgerald reiterated a “buy” rating on shares of The Priceline Group in a report on Sunday, August 28th. Finally, RBC Capital Markets reiterated a “buy” rating and set a $1,750.00 price objective (up from $1,600.00) on shares of The Priceline Group in a report on Friday, October 7th. Six equities research 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 company currently has an average rating of “Buy” and an average target price of $1,622.45.

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

The Priceline Group (NASDAQ:PCLN) last released its earnings results on Monday, November 7th. The company reported $31.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $29.88 by $1.30. The company earned $3.69 billion during 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 company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $25.35 earnings per share. On average, equities analysts anticipate that The Priceline Group will post $64.44 EPS for the current fiscal year.

In other The Priceline Group 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 transaction of $4,416,240.00. Following the sale, the chief executive officer now directly owns 85,537 shares of the company’s stock, valued at $125,917,306.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenn D. Fogel sold 1,000 shares of The Priceline Group stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $1,434.75, for a total value of $1,434,750.00. Following the sale, the insider now directly owns 25,131 shares in the company, valued at $36,056,702.25. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. AMP Capital Investors Ltd increased its stake in The Priceline Group by 5.1% in the first quarter. AMP Capital Investors Ltd now owns 24,472 shares of the company’s stock worth $32,231,000 after buying an additional 1,191 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in The Priceline Group by 74.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 74,100 shares of the company’s stock worth $95,512,000 after buying an additional 31,600 shares during the last quarter. Bayesian Capital Management LP bought a new stake in The Priceline Group during the first quarter worth $459,000. Legal & General Group Plc increased its stake in The Priceline Group by 1.2% in the first quarter. Legal & General Group Plc now owns 204,290 shares of the company’s stock worth $263,327,000 after buying an additional 2,414 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in The Priceline Group by 19.7% in the first quarter. Envestnet Asset Management Inc. now owns 25,164 shares of the company’s stock worth $32,435,000 after buying an additional 4,141 shares during the last quarter. 94.10% of the stock is currently owned by institutional investors.

The Priceline Group Company Profile

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