The The Priceline Group Inc. (NASDAQ:PCLN) Given Average Recommendation of “Buy” from Analysts

The The Priceline Group Inc. (NASDAQ:PCLN) Given Average Recommendation of “Buy” from Analysts

The Priceline Group Inc. (NASDAQ:PCLN) has earned a consensus recommendation of “Buy” from the twenty-eight research firms that are presently covering the firm. Six investment analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $1,519.39.

Several equities research analysts have recently issued reports on the company. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of The Priceline Group in a report on Tuesday, June 21st. Jefferies Group reaffirmed a “buy” rating and issued a $1,700.00 target price on shares of The Priceline Group in a report on Tuesday, August 23rd. Deutsche Bank AG lifted their target price on The Priceline Group from $1,330.00 to $1,450.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Vetr cut The Priceline Group from a “hold” rating to a “sell” rating and set a $1,301.85 target price on the stock. in a report on Tuesday, June 21st. Finally, Zacks Investment Research cut The Priceline Group from a “buy” rating to a “hold” rating in a report on Wednesday.

In other news, CEO Gillian Tans sold 131 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $1,327.89, for a total transaction of $173,953.59. Following the transaction, the chief executive officer now directly owns 6,049 shares of the company’s stock, valued at $8,032,406.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffery H. Boyd sold 3,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $1,353.90, for a total value of $4,061,700.00. Following the completion of the transaction, the chief executive officer now directly owns 94,488 shares in the company, valued at $127,927,303.20. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

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Several institutional investors have recently added to or reduced their stakes in PCLN. Capital World Investors increased its position in The Priceline Group by 38.0% in the second quarter. Capital World Investors now owns 1,235,836 shares of the company’s stock valued at $1,542,830,000 after buying an additional 340,386 shares during the last quarter. Lone Pine Capital LLC increased its position 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 valued at $1,399,165,000 after buying an additional 329,121 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in The Priceline Group during the first quarter valued at about $251,864,000. Jennison Associates LLC increased its position in The Priceline Group by 21.2% in the second quarter. Jennison Associates LLC now owns 858,165 shares of the company’s stock valued at $1,071,342,000 after buying an additional 150,154 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its position in The Priceline Group by 73.6% in the second quarter. BlackRock Investment Management LLC now owns 216,593 shares of the company’s stock valued at $270,397,000 after buying an additional 91,819 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of The Priceline Group (NASDAQ:PCLN) traded up 0.61% during midday trading on Wednesday, reaching $1498.10. The company had a trading volume of 238,810 shares. The firm has a market capitalization of $74.05 billion, a price-to-earnings ratio of 28.49 and a beta of 1.62. The stock has a 50-day moving average of $1,440.14 and a 200 day moving average of $1,345.82. The Priceline Group has a 52 week low of $954.02 and a 52 week high of $1,501.47.

The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings data on Thursday, August 4th. The company reported $13.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $12.69 by $1.24. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the business earned $12.45 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. On average, analysts anticipate that The Priceline Group will post $68.57 earnings per share for the current year.

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