Todays Report: Today, The Priceline Group’s (PCLN) Buy Rating Reaffirm at Ascendiant Capital Markets

Today, The Priceline Group’s (PCLN) Buy Rating Reaffirm at Ascendiant Capital Markets

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating restated by equities researchers at Ascendiant Capital Markets in a note issued to investors on Tuesday. They currently have a $1,700.00 target price on the stock, up from their previous target price of $1,600.00. Ascendiant Capital Markets’ target price indicates a potential upside of 11.72% from the stock’s current price.

PCLN has been the topic of several other reports. Credit Suisse Group AG restated a “buy” rating and issued a $1,660.00 price objective (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 objective on the stock in a report on Thursday, August 11th. Royal Bank Of Canada upped their price objective 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. Susquehanna restated a “buy” rating and issued a $1,700.00 price objective on shares of The Priceline Group in a report on Tuesday, November 8th. Finally, Pacific Crest restated a “hold” rating on shares of The Priceline Group in a report on Tuesday, November 8th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,622.45.

Shares of The Priceline Group (NASDAQ:PCLN) opened at 1521.68 on Tuesday. The Priceline Group has a 52 week low of $954.02 and a 52 week high of $1,600.93. The firm has a 50-day moving average of $1,485.47 and a 200 day moving average of $1,391.83. The firm has a market capitalization of $75.09 billion, a P/E ratio of 38.84 and a beta of 1.69.

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

In other news, 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 value of $186,157.40. Following the completion of the transaction, the chief executive officer now owns 5,788 shares in the company, valued at approximately $8,288,300.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Glenn D. Fogel sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $1,434.75, for a total transaction of $1,434,750.00. Following the completion of the transaction, the insider now owns 25,131 shares of the company’s stock, valued at approximately $36,056,702.25. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in shares of The Priceline Group by 19.7% in the first quarter. Envestnet Asset Management Inc. now owns 25,164 shares of the company’s stock valued at $32,435,000 after buying an additional 4,141 shares during the last quarter. Hillman Co. boosted its position in shares of The Priceline Group by 29.2% in the second quarter. Hillman Co. now owns 22,929 shares of the company’s stock valued at $28,625,000 after buying an additional 5,186 shares during the last quarter. Henderson Group PLC boosted its position in shares of The Priceline Group by 19.9% in the second quarter. Henderson Group PLC now owns 79,996 shares of the company’s stock valued at $99,914,000 after buying an additional 13,258 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in shares of The Priceline Group during the first quarter valued at about $251,864,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of 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 valued at $95,512,000 after buying an additional 31,600 shares during the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.

About The Priceline Group

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