The Priceline Group Inc. (PCLN) Receives $1,946.00 Average Price Target from Brokerages

Shares of The Priceline Group Inc. (NASDAQ:PCLN) have received a consensus recommendation of “Buy” from the thirty-three ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, twenty-six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $1,902.60.

Several research analysts have recently weighed in on the stock. Credit Suisse Group restated an “outperform” rating and issued a $2,070.00 target price (down from $2,150.00) on shares of The Priceline Group in a research note on Wednesday. Needham & Company LLC restated a “buy” rating on shares of The Priceline Group in a research note on Wednesday, June 21st. MKM Partners restated a “buy” rating and issued a $2,050.00 target price (up from $2,030.00) on shares of The Priceline Group in a research note on Wednesday, May 17th. Stifel Nicolaus restated a “buy” rating and issued a $2,100.00 target price on shares of The Priceline Group in a research note on Thursday. Finally, Deutsche Bank AG upped their price target on shares of The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a report on Monday, May 8th.

The Priceline Group (NASDAQ:PCLN) opened at 1854.17 on Tuesday. The Priceline Group has a 12 month low of $1,392.44 and a 12 month high of $2,067.99. The firm has a 50-day moving average of $1,950.91 and a 200 day moving average of $1,809.82. The stock has a market cap of $90.96 billion, a PE ratio of 39.38 and a beta of 1.42. The Priceline Group also was the target of some unusual options trading activity on Wednesday. Investors acquired 17,507 call options on the stock. This represents an increase of 255% compared to the average daily volume of 4,928 call options.

The Priceline Group (NASDAQ:PCLN) last announced its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, beating the consensus estimate of $14.25 by $0.89. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $13.93 earnings per share. Analysts anticipate that The Priceline Group will post $74.80 EPS for the current year.

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In other news, Director Jan L. Docter sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 346 shares in the company, valued at approximately $642,753.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the transaction, the chief executive officer now owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,744 shares of company stock valued at $3,245,648. Insiders own 0.42% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Advisors Inc. OK boosted its position in shares of The Priceline Group by 4.1% in the first quarter. Capital Advisors Inc. OK now owns 6,556 shares of the business services provider’s stock valued at $11,669,000 after buying an additional 256 shares during the last quarter. Pinnacle Bank purchased a new position in shares of The Priceline Group during the first quarter valued at approximately $178,000. Mackenzie Financial Corp purchased a new position in shares of The Priceline Group during the first quarter valued at approximately $34,546,000. Carderock Capital Management Inc. boosted its position in shares of The Priceline Group by 163.3% in the first quarter. Carderock Capital Management Inc. now owns 1,659 shares of the business services provider’s stock valued at $2,952,000 after buying an additional 1,029 shares during the last quarter. Finally, Atria Investments LLC boosted its position in shares of The Priceline Group by 1.2% in the first quarter. Atria Investments LLC now owns 1,209 shares of the business services provider’s stock valued at $2,152,000 after buying an additional 14 shares during the last quarter. Institutional investors own 95.01% 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.

Analyst Recommendations for The Priceline Group (NASDAQ:PCLN)

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