Zacks Investment Research lowered shares of TripAdvisor, Inc. (NASDAQ:TRIP) from a hold rating to a sell rating in a research report report published on Tuesday morning.
According to Zacks, “TripAdvisor is one of the largest online travel research companies in the world. The company's second-quarter results were driven by strong growth in the company’s Click-based and Hotel segment revenue. On a year-to-date basis, the stock has underperformed the Industry to which it belongs to. However, the secular growth trend in the online travel space, the company’s solid fundamentals, growth initiatives, partnerships to boost hotel bookings, strong focus on developing its mobile products, expansion into the international restaurant reservation space and improvement in user growth and engagement, especially related to mobile devices are likely to help the company to achieve desired results. Macro headwinds, increasing competition and uncertainty regarding the timeline for recovery of investments remain overhangs.”
Other research analysts have also recently issued reports about the company. KeyCorp reissued a hold rating on shares of TripAdvisor in a research note on Wednesday, October 4th. Citigroup Inc. reissued a neutral rating and set a $41.00 target price (up from $39.00) on shares of TripAdvisor in a research note on Tuesday, October 3rd. Jefferies Group LLC reissued a sell rating and set a $35.00 target price on shares of TripAdvisor in a research note on Thursday, September 28th. Raymond James Financial, Inc. reissued a market perform rating on shares of TripAdvisor in a research note on Tuesday, September 26th. Finally, Cowen and Company reissued a hold rating and set a $42.00 target price on shares of TripAdvisor in a research note on Tuesday, September 12th. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the company. TripAdvisor has a consensus rating of Hold and an average target price of $42.83.
TripAdvisor (NASDAQ:TRIP) last issued its quarterly earnings data on Tuesday, August 8th. The travel company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.05). TripAdvisor had a net margin of 6.26% and a return on equity of 8.62%. The firm had revenue of $424.00 million during the quarter, compared to analyst estimates of $421.66 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year.
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In other news, insider Dermot Halpin sold 12,859 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $39.09, for a total value of $502,658.31. Following the completion of the sale, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $209,678.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of TripAdvisor in the 1st quarter valued at about $113,000. Nordea Investment Management AB lifted its holdings in shares of TripAdvisor by 3.5% in the 1st quarter. Nordea Investment Management AB now owns 4,597 shares of the travel company’s stock valued at $198,000 after purchasing an additional 157 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of TripAdvisor in the 1st quarter valued at about $205,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of TripAdvisor by 7.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,303 shares of the travel company’s stock valued at $229,000 after purchasing an additional 377 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of TripAdvisor in the 2nd quarter valued at about $242,000. 86.18% of the stock is owned by institutional investors and hedge funds.
TripAdvisor, Inc owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company’s Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations.
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