TripAdvisor (NASDAQ:TRIP – Get Free Report) had its price target dropped by stock analysts at Barclays from $9.00 to $8.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the travel company’s stock. Barclays‘s price objective would indicate a potential upside of 11.03% from the company’s previous close.
Several other equities research analysts also recently issued reports on the company. B. Riley Financial decreased their price target on TripAdvisor from $12.50 to $8.50 and set a “neutral” rating for the company in a report on Friday. BTIG Research cut TripAdvisor from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 21st. UBS Group set a $9.00 price objective on shares of TripAdvisor and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. reduced their target price on shares of TripAdvisor from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, August 7th. Finally, Cantor Fitzgerald lowered their target price on shares of TripAdvisor from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Friday. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, TripAdvisor presently has a consensus rating of “Reduce” and a consensus price target of $13.27.
Check Out Our Latest Research Report on TRIP
TripAdvisor Stock Down 2.4%
Shares of TripAdvisor stock traded down $0.17 on Friday, hitting $7.21. The company had a trading volume of 3,109,992 shares, compared to its average volume of 3,753,018. The stock has a market capitalization of $844.42 million, a price-to-earnings ratio of 721.22, a P/E/G ratio of 4.11 and a beta of 0.87. TripAdvisor has a 1 year low of $7.03 and a 1 year high of $16.04. The stock has a 50 day moving average of $9.00 and a 200-day moving average of $10.94. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.56 and a current ratio of 1.56.
TripAdvisor (NASDAQ:TRIP – Get Free Report) last posted its earnings results on Thursday, November 5th. The travel company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). The company had revenue of $436.40 million during the quarter, compared to the consensus estimate of $447.39 million. TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. As a group, sell-side analysts forecast that TripAdvisor will post 0.34 earnings per share for the current year.
Insider Activity
In other news, CEO Almir Ambeskovic sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $9.45, for a total value of $75,600.00. Following the completion of the transaction, the chief executive officer directly owned 30,456 shares of the company’s stock, valued at $287,809.20. This represents a 20.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is currently owned by corporate insiders.
Institutional Trading of TripAdvisor
Hedge funds have recently bought and sold shares of the business. Maryland State Retirement & Pension System boosted its position in TripAdvisor by 50.4% in the third quarter. Maryland State Retirement & Pension System now owns 25,509 shares of the travel company’s stock worth $214,000 after purchasing an additional 8,551 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in TripAdvisor in the 3rd quarter valued at $239,000. Illinois Municipal Retirement Fund increased its position in shares of TripAdvisor by 10.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 64,367 shares of the travel company’s stock valued at $539,000 after purchasing an additional 6,214 shares during the last quarter. Ballast Asset Management LP increased its position in shares of TripAdvisor by 69.0% during the 3rd quarter. Ballast Asset Management LP now owns 307,025 shares of the travel company’s stock valued at $2,570,000 after purchasing an additional 125,380 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its position in shares of TripAdvisor by 108.9% during the 3rd quarter. Hennessy Advisors Inc. now owns 23,062 shares of the travel company’s stock valued at $193,000 after purchasing an additional 12,021 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.
TripAdvisor News Roundup
Here are the key news stories impacting TripAdvisor this week:
- Neutral Sentiment: Tripadvisor announced a restructuring and job cuts as it reworks its strategy. The outgoing CEO reportedly said the Experiences overhaul fell short; cost reductions could help, but the need to reset the initiative highlights execution challenges. Tripadvisor Cuts Jobs, Outgoing CEO Says Experiences Overhaul Fell Short
- Negative Sentiment: Third-quarter adjusted earnings were $0.37 per share, below the $0.43 consensus cited in the earnings report, while revenue of $436.4 million missed estimates of $447.39 million and fell 11.1% year over year. Tripadvisor also reported a $313.1 million net loss, including an approximately $370 million goodwill impairment. Tripadvisor Q3 earnings report
- Negative Sentiment: CEO Matt Goldberg is stepping down and leaving the board, alongside a CFO transition. The leadership departures during a turnaround add uncertainty about strategy and execution. Tripadvisor CEO Matt Goldberg to step down
- Negative Sentiment: Cantor Fitzgerald lowered its price target from $8 to $6 and assigned an “underweight” rating, signaling the analyst sees further downside. Cantor Fitzgerald recommendations
- Negative Sentiment: A law firm announced an investigation into potential securities-law violations following the earnings-related selloff. The investigation is an allegation, not a finding, but could add legal uncertainty. Investor investigation notice
TripAdvisor Company Profile
Tripadvisor, Inc (NASDAQ: TRIP) operates a global travel guidance and experiences platform. Its flagship Tripadvisor brand provides user-generated reviews, ratings, photos and travel information covering hotels, restaurants, attractions and destinations, helping travelers research and plan trips.
The company also operates Viator, an online marketplace for tours, activities and other travel experiences, and TheFork, a digital restaurant reservation platform serving diners and restaurants.
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