The Priceline Group Inc. (PCLN) Stock Rating Reaffirmed by MKM Partners

The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reissued by stock analysts at MKM Partners in a research note issued on Wednesday, May 17th. They currently have a $2,050.00 price target on the business services provider’s stock, up from their prior price target of $2,030.00. MKM Partners’ target price points to a potential upside of 13.72% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. Benchmark Co. reiterated a “buy” rating and set a $2,050.00 price target (up previously from $1,900.00) on shares of The Priceline Group in a research report on Sunday, May 14th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $2,150.00 price target (up previously from $1,950.00) on shares of The Priceline Group in a research report on Friday, May 12th. Vetr upgraded shares of The Priceline Group from a “sell” rating to a “hold” rating and set a $1,875.00 price objective for the company in a report on Thursday, May 11th. Credit Suisse Group set a $2,020.00 price objective on shares of The Priceline Group and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, J P Morgan Chase & Co boosted their price objective on shares of The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,928.36.

Analyst Recommendations for The Priceline Group (NASDAQ:PCLN)

Shares of The Priceline Group (NASDAQ PCLN) traded down 0.36% on Wednesday, hitting $1802.61. The company had a trading volume of 524,281 shares. The Priceline Group has a 12 month low of $1,148.06 and a 12 month high of $1,927.13. The company has a 50-day moving average of $1,853.15 and a 200 day moving average of $1,693.08. The stock has a market cap of $88.58 billion, a PE ratio of 40.69 and a beta of 1.41.

The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Tuesday, May 9th. The business services provider reported $9.88 EPS for the quarter, topping the consensus estimate of $8.83 by $1.05. The Priceline Group had a net margin of 20.12% and a return on equity of 33.94%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the company earned $10.54 EPS. The Priceline Group’s revenue was up 12.6% on a year-over-year basis. Analysts anticipate that The Priceline Group will post $73.68 EPS for the current fiscal year.

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In other news, Director Jan L. Docter sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the completion of the sale, the director now owns 346 shares of the company’s stock, valued at approximately $642,753.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $1,743.00, for a total value of $212,646.00. Following the completion of the transaction, the chief executive officer now owns 6,289 shares in the company, valued at $10,961,727. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Winslow Capital Management LLC boosted its position in shares of The Priceline Group by 38.8% in the third quarter. Winslow Capital Management LLC now owns 291,247 shares of the business services provider’s stock worth $428,566,000 after buying an additional 81,396 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of The Priceline Group by 27.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,464 shares of the business services provider’s stock valued at $12,455,000 after buying an additional 1,812 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of The Priceline Group by 11.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 64,755 shares of the business services provider’s stock valued at $95,286,000 after buying an additional 6,610 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of The Priceline Group by 13.5% in the third quarter. Stratos Wealth Partners LTD. now owns 387 shares of the business services provider’s stock valued at $569,000 after buying an additional 46 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in shares of The Priceline Group by 0.4% in the third quarter. Mutual of America Capital Management LLC now owns 5,792 shares of the business services provider’s stock valued at $8,523,000 after buying an additional 24 shares during the period. Institutional investors own 96.73% of the company’s stock.

About The Priceline Group

The Priceline Group Inc is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.

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