Booking (NASDAQ:BKNG) Cut to “Hold” at Argus

Booking (NASDAQ:BKNG) was downgraded by analysts at Argus from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

A number of other research firms have also recently issued reports on BKNG. DA Davidson increased their price target on Booking from $4,100.00 to $5,005.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI cut their target price on Booking from $4,500.00 to $4,200.00 and set an “outperform” rating on the stock in a report 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. JPMorgan Chase & Co. cut their target price on Booking from $4,025.00 to $3,860.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, BMO Capital Markets increased their target price on Booking from $4,205.00 to $5,155.00 and gave the stock an “outperform” rating in a report on Thursday. Twelve research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Booking has an average rating of “Moderate Buy” and an average target price of $4,680.18.

Booking Stock Performance

Booking stock opened at $4,749.11 on Thursday. The stock has a market capitalization of $159.19 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 1.45 and a beta of 1.40. Booking has a 52-week low of $2,756.39 and a 52-week high of $4,856.60. The stock’s 50 day moving average price is $4,136.96 and its two-hundred day moving average price is $3,880.99.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $83.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $77.94 by $5.95. The firm had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.63 billion. Booking had a negative return on equity of 165.63% and a net margin of 21.85%. On average, equities research analysts forecast that Booking will post 177.37 EPS for the current year.

Insider Buying and Selling

In related news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction dated 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 completion of the sale, the insider now owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Booking

Several large investors have recently added to or reduced their stakes in BKNG. Jamison Private Wealth Management Inc. purchased a new stake in Booking in the 3rd quarter worth about $25,000. Grove Bank & Trust grew its holdings in Booking by 133.3% during the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after buying an additional 4 shares in the last quarter. POM Investment Strategies LLC purchased a new position in Booking during the 2nd quarter valued at about $28,000. Kings Path Partners LLC purchased a new position in Booking during the 2nd quarter valued at about $28,000. Finally, West Financial Advisors LLC purchased a new position in Booking during the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Company Profile

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.