StockNews.com Upgrades Booking (NASDAQ:BKNG) to Buy

StockNews.com upgraded shares of Booking (NASDAQ:BKNG) from a hold rating to a buy rating in a research report released on Saturday.

A number of other equities research analysts have also issued reports on the company. JMP Securities increased their price target on Booking from $5,000.00 to $5,400.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Evercore ISI decreased their target price on Booking from $4,500.00 to $4,200.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Barclays upped their price target on Booking from $4,500.00 to $5,100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Morgan Stanley lifted their price objective on shares of Booking from $4,200.00 to $4,600.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Bank of America boosted their target price on shares of Booking from $4,448.00 to $4,850.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,749.83.

Booking Price Performance

BKNG opened at $5,022.92 on Friday. The firm has a market cap of $166.24 billion, a P/E ratio of 34.37, a PEG ratio of 1.54 and a beta of 1.38. Booking has a 1-year low of $3,076.54 and a 1-year high of $5,069.44. The company has a 50 day simple moving average of $4,263.66 and a two-hundred day simple moving average of $3,948.67.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $8.75 dividend. This represents a $35.00 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, December 6th. Booking’s payout ratio is currently 23.75%.

Insider Buying and Selling at Booking

In other news, insider Paulo Pisano sold 100 shares of the 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 value of $388,761.00. Following the sale, the insider now directly owns 3,787 shares in the company, valued at approximately $14,722,379.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Booking

A number of hedge funds and other institutional investors have recently bought and sold shares of BKNG. Jamison Private Wealth Management Inc. purchased a new position in Booking in the 3rd quarter worth about $25,000. Grove Bank & Trust increased its position in shares of Booking by 133.3% during the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after acquiring an additional 4 shares during the period. POM Investment Strategies LLC bought a new stake in shares of Booking during the second quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new stake in shares of Booking in the second quarter valued at approximately $28,000. Finally, West Financial Advisors LLC bought a new position in Booking in the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

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.