Booking (NASDAQ:BKNG) Hits New 52-Week High on Analyst Upgrade

by · The Markets Daily

Booking Holdings Inc. (NASDAQ:BKNG – Get Free Report) hit a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $4,200.00 to $4,300.00. Jefferies Financial Group currently has a hold rating on the stock. Booking traded as high as $4,395.00 and last traded at $4,381.67, with a volume of 82232 shares changing hands. The stock had previously closed at $4,363.72.

Several other equities research analysts have also recently issued reports on BKNG. JPMorgan Chase & Co. cut their price target on Booking from $4,025.00 to $3,860.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company increased their target price on Booking from $3,976.00 to $4,173.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Evercore ISI decreased their price target on Booking from $4,500.00 to $4,200.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $3,900.00 price objective on shares of Booking in a research report on Monday, August 5th. Finally, Wedbush increased their price objective on shares of Booking from $3,850.00 to $4,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Ten research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4,133.75.

Get Our Latest Report on Booking

Insiders Place Their Bets

In other news, insider Paulo Pisano sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at $14,722,379.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aspiriant LLC raised its stake in shares of Booking by 4.8% in the first quarter. Aspiriant LLC now owns 65 shares of the business services provider’s stock worth $236,000 after purchasing an additional 3 shares during the last quarter. Consilio Wealth Advisors LLC raised its position in Booking by 1.7% in the 1st quarter. Consilio Wealth Advisors LLC now owns 178 shares of the business services provider’s stock valued at $647,000 after buying an additional 3 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Booking by 14.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 24 shares of the business services provider’s stock valued at $87,000 after acquiring an additional 3 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Booking by 30.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 13 shares of the business services provider’s stock worth $47,000 after acquiring an additional 3 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of Booking by 1.9% in the 1st quarter. Proficio Capital Partners LLC now owns 157 shares of the business services provider’s stock worth $570,000 after acquiring an additional 3 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

Booking Stock Up 0.3 %

The company has a market capitalization of $148.53 billion, a P/E ratio of 32.73, a price-to-earnings-growth ratio of 1.31 and a beta of 1.40. The business’s 50-day moving average is $3,998.82 and its two-hundred day moving average is $3,829.91.

Booking (NASDAQ:BKNG – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, topping analysts’ consensus estimates of $39.22 by $2.68. The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.77 billion. Booking had a negative return on equity of 200.87% and a net margin of 22.46%. Booking’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $37.62 earnings per share. Analysts predict that Booking Holdings Inc. will post 176.92 EPS for the current year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $8.75 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $35.00 annualized dividend and a dividend yield of 0.80%. Booking’s payout ratio is presently 26.25%.

Booking Company Profile

(Get Free Report)

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.

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