Barclays Reaffirms “Overweight” Rating for Booking (NASDAQ:BKNG)

Barclays reaffirmed their overweight rating on shares of Booking (NASDAQ:BKNG) in a research note released on Thursday morning, Briefing.com Automated Import reports. The brokerage currently has a $2,140.00 price objective on the business services provider’s stock, up from their previous price objective of $2,080.00.

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Booking from a hold rating to a sell rating in a research report on Thursday, May 9th. Zacks Investment Research raised Booking from a sell rating to a hold rating and set a $1,988.00 price target on the stock in a research report on Tuesday, July 23rd. Citigroup upgraded Booking from a neutral rating to a buy rating and decreased their price objective for the stock from $1,800.00 to $1,745.02 in a research note on Thursday, May 23rd. Credit Suisse Group restated an outperform rating and set a $2,250.00 price objective (up from $2,235.00) on shares of Booking in a research note on Friday, May 10th. Finally, Cleveland Research started coverage on Booking in a research note on Wednesday, June 19th. They set a neutral rating for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $2,066.00.

Shares of BKNG traded down $23.32 during midday trading on Thursday, reaching $1,917.69. 366,687 shares of the stock were exchanged, compared to its average volume of 317,879. Booking has a 52 week low of $1,606.27 and a 52 week high of $2,019.48. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.58 and a quick ratio of 1.27. The firm has a 50 day moving average price of $1,886.59. The company has a market capitalization of $82.52 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.59 and a beta of 1.14.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $23.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $22.80 by $0.79. Booking had a return on equity of 56.70% and a net margin of 28.19%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company earned $20.13 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. Analysts forecast that Booking will post 101.54 earnings per share for the current fiscal year.

In other news, CEO Gillian Tans sold 606 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $1,778.60, for a total value of $1,077,831.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey E. Epstein sold 250 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $1,755.75, for a total value of $438,937.50. The disclosure for this sale can be found here. Insiders sold 1,462 shares of company stock worth $2,602,200 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Several hedge funds have recently made changes to their positions in BKNG. Weaver Consulting Group acquired a new stake in Booking during the first quarter worth about $25,000. Guidant Wealth Advisors acquired a new stake in Booking during the first quarter worth about $26,000. Truvestments Capital LLC acquired a new stake in Booking during the first quarter worth about $44,000. Horan Capital Advisors LLC. acquired a new stake in Booking during the first quarter worth about $49,000. Finally, TRUE Private Wealth Advisors acquired a new stake in Booking during the second quarter worth about $50,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

About Booking

Booking Holdings Inc, formerly 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.

See Also: Initial Public Offering (IPO)

Analyst Recommendations for Booking (NASDAQ:BKNG)

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