Trading Report: The Priceline Group Inc. (PCLN) Rating Reiterated by RBC Capital Markets

The Priceline Group Inc. (PCLN) Rating Reiterated by RBC Capital Markets

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reissued by research analysts at RBC Capital Markets in a research report issued to clients and investors on Friday. They currently have a $1,750.00 target price on the stock. RBC Capital Markets’ target price would indicate a potential upside of 17.41% from the stock’s current price.

Several other research firms also recently issued reports on PCLN. Zacks Investment Research raised The Priceline Group from a “hold” rating to a “buy” rating and set a $1,575.00 target price on the stock in a research report on Thursday, August 11th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of The Priceline Group in a research report on Friday, August 5th. Cantor Fitzgerald reissued a “buy” rating and issued a $1,560.00 target price (up from $1,453.49) on shares of The Priceline Group in a research report on Thursday, September 29th. Evercore ISI raised The Priceline Group from a “hold” rating to a “buy” rating and upped their target price for the company from $1,360.00 to $1,650.00 in a research report on Thursday, August 18th. Finally, Vetr raised The Priceline Group from a “buy” rating to a “strong-buy” rating and set a $1,357.64 target price on the stock in a research report on Tuesday, June 28th. Six investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The Priceline Group has a consensus rating of “Buy” and an average price target of $1,538.19.

The Priceline Group (NASDAQ:PCLN) opened at 1490.44 on Friday. The stock has a market capitalization of $73.67 billion, a P/E ratio of 28.35 and a beta of 1.62. The Priceline Group has a 1-year low of $954.02 and a 1-year high of $1,501.79. The stock has a 50 day moving average price of $1,444.49 and a 200-day moving average price of $1,347.94.

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The Priceline Group (NASDAQ:PCLN) last released its earnings results on Thursday, August 4th. The company reported $13.93 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm earned $12.45 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that The Priceline Group will post $68.57 EPS for the current year.

In related news, insider Glenn D. Fogel sold 1,000 shares of the 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffery H. Boyd sold 3,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $1,353.90, for a total transaction of $4,061,700.00. Following the transaction, the chief executive officer now directly owns 94,488 shares of the company’s stock, valued at approximately $127,927,303.20. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Several institutional investors have recently bought and sold shares of PCLN. Meag Munich Ergo Kapitalanlagegesellschaft bought a new position in The Priceline Group during the third quarter worth $2,990,000. Gerstein Fisher boosted its position in The Priceline Group by 5.2% in the third quarter. Gerstein Fisher now owns 1,568 shares of the company’s stock worth $1,939,000 after buying an additional 78 shares during the last quarter. MUFG Americas boosted its position in The Priceline Group by 2.4% in the third quarter. MUFG Americas now owns 2,414 shares of the company’s stock worth $2,986,000 after buying an additional 57 shares during the last quarter. Janus Capital Management boosted its position in The Priceline Group by 2.3% in the third quarter. Janus Capital Management now owns 679,244 shares of the company’s stock worth $840,135,000 after buying an additional 15,276 shares during the last quarter. Finally, Lawrence B. Cohen bought a new position in The Priceline Group during the fourth quarter worth $1,451,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

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