Booking (NASDAQ:BKNG) Stock Rating Lowered by Erste Group Bank

Booking (NASDAQ:BKNG) was downgraded by investment analysts at Erste Group Bank from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

BKNG has been the subject of several other reports. Benchmark increased their price target on shares of Booking from $5,000.00 to $5,900.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Royal Bank of Canada increased their price target on shares of Booking from $5,250.00 to $5,900.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Mizuho increased their price target on shares of Booking from $5,400.00 to $6,000.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Tigress Financial increased their price target on shares of Booking from $4,580.00 to $5,600.00 and gave the stock a “strong-buy” rating in a report on Monday, November 18th. Finally, Morgan Stanley increased their price target on shares of Booking from $4,600.00 to $5,000.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5,370.43.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $4,471.51 on Monday. The company has a 50-day simple moving average of $4,803.32 and a 200-day simple moving average of $4,691.22. Booking has a one year low of $3,180.00 and a one year high of $5,337.24. The stock has a market capitalization of $146.73 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.71 and a beta of 1.40.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating analysts’ consensus estimates of $35.82 by $5.73. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.18 billion. As a group, research analysts forecast that Booking will post 209.92 EPS for the current fiscal year.

Institutional Trading of Booking

A number of hedge funds have recently bought and sold shares of the company. 111 Capital acquired a new stake in Booking during the fourth quarter worth approximately $3,006,000. Wealth Enhancement Advisory Services LLC raised its stake in Booking by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,790 shares of the business services provider’s stock worth $33,735,000 after purchasing an additional 270 shares during the period. NorthCrest Asset Manangement LLC raised its stake in Booking by 7.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 131 shares of the business services provider’s stock worth $650,000 after purchasing an additional 9 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new position in Booking during the fourth quarter worth approximately $55,607,000. Finally, BridgePort Financial Solutions LLC purchased a new position in Booking during the fourth quarter worth approximately $635,000. Institutional investors and hedge funds 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.