The Priceline Group Inc. (PCLN) Rating Increased to Buy at the Stifel Nicolaus

The Priceline Group Inc. (PCLN) Rating Increased to Buy at the Stifel Nicolaus

The Priceline Group Inc. (NASDAQ:PCLN) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $1,900.00 price objective on the stock, up from their prior price objective of $1,650.00. Stifel Nicolaus’ price target suggests a potential upside of 23.32% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of The Priceline Group from $1,600.00 to $1,750.00 and gave the company an “outperform” rating in a research note on Friday, October 7th. Jefferies Group reissued a “buy” rating and issued a $1,700.00 price objective on shares of The Priceline Group in a research note on Tuesday, October 25th. Susquehanna started coverage on shares of The Priceline Group in a research note on Wednesday, October 19th. They issued a “positive” rating and a $1,700.00 price objective on the stock. Cantor Fitzgerald reissued a “buy” rating on shares of The Priceline Group in a research note on Sunday, August 28th. Finally, RBC Capital Markets reissued a “buy” rating and issued a $1,750.00 price objective (up from $1,600.00) on shares of The Priceline Group in a research note on Friday, October 7th. Six research 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 stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,622.45.

Shares of The Priceline Group (NASDAQ:PCLN) opened at 1540.65 on Thursday. The Priceline Group has a 1-year low of $954.02 and a 1-year high of $1,600.93. The stock has a 50 day moving average of $1,475.07 and a 200-day moving average of $1,377.97. The stock has a market capitalization of $76.02 billion, a P/E ratio of 39.33 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $29.88 by $1.30. The Priceline Group had a net margin of 18.91% and a return on equity of 34.70%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the company posted $25.35 EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts predict that The Priceline Group will post $64.68 earnings per share 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 on Tuesday, November 1st. The shares were sold at an average price of $1,472.08, for a total value of $4,416,240.00. Following the completion of the transaction, the chief executive officer now owns 85,537 shares of the company’s stock, valued at $125,917,306.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Glenn D. Fogel sold 1,000 shares of The Priceline Group stock in a transaction on Wednesday, September 7th. The stock was 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 directly 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 company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in The Priceline Group by 0.8% in the third quarter. Quadrant Capital Group LLC now owns 129 shares of the company’s stock worth $180,000 after buying an additional 1 shares during the last quarter. Bangor Savings Bank boosted its stake in The Priceline Group by 0.3% in the second quarter. Bangor Savings Bank now owns 727 shares of the company’s stock worth $908,000 after buying an additional 2 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in The Priceline Group by 1.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 106 shares of the company’s stock worth $156,000 after buying an additional 2 shares during the last quarter. Tdam USA Inc. boosted its stake in The Priceline Group by 0.6% in the second quarter. Tdam USA Inc. now owns 497 shares of the company’s stock worth $620,000 after buying an additional 3 shares during the last quarter. Finally, Capital Analysts LLC boosted its stake in The Priceline Group by 1.3% in the second quarter. Capital Analysts LLC now owns 318 shares of the company’s stock worth $397,000 after buying an additional 4 shares during the last quarter. 94.04% of the stock is owned by hedge funds and other institutional investors.

About The Priceline Group

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