SunTrust Banks Reaffirms Hold Rating for Tripadvisor (NASDAQ:TRIP)
SunTrust Banks reaffirmed their hold rating on shares of Tripadvisor (NASDAQ:TRIP) in a research report released on Tuesday morning, AnalystRatings.com reports. SunTrust Banks currently has a $60.00 price target on the travel company’s stock.
“We’re updating our estimates to reflect 1Q results and mgt’s outlook. We continue to expect double-digit EBITDA growth in FY19. While NT growth in core Hotel is likely to remain pressured by TRIP’s ad cuts, we believe that fundamentals should continue to stabilize.”,” the firm’s analyst commented.
A number of other equities analysts have also recently issued reports on TRIP. Piper Jaffray Companies increased their target price on Tripadvisor to $58.00 and gave the stock a neutral rating in a report on Wednesday, February 13th. Zacks Investment Research cut Tripadvisor from a buy rating to a hold rating in a report on Monday, February 18th. BidaskClub cut Tripadvisor from a buy rating to a hold rating in a report on Wednesday, February 20th. ValuEngine cut Tripadvisor from a buy rating to a hold rating in a report on Friday, March 1st. Finally, Cowen cut Tripadvisor from a market perform rating to an underperform rating and dropped their target price for the stock from $50.00 to $40.00 in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Tripadvisor has an average rating of Hold and a consensus price target of $56.60.
Tripadvisor (NASDAQ:TRIP) last issued its earnings results on Tuesday, May 7th. The travel company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. Tripadvisor had a return on equity of 10.24% and a net margin of 8.31%. The business had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $387.27 million. During the same period in the prior year, the firm posted $0.30 EPS. Tripadvisor’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts expect that Tripadvisor will post 1.32 earnings per share for the current fiscal year.
In related news, SVP Seth J. Kalvert sold 11,016 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $51.93, for a total transaction of $572,060.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Noel Bertram Watson sold 3,369 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $55.00, for a total value of $185,295.00. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TRIP. Bronfman E.L. Rothschild L.P. increased its stake in shares of Tripadvisor by 19.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,130 shares of the travel company’s stock valued at $61,000 after buying an additional 186 shares during the period. Mason Street Advisors LLC increased its stake in shares of Tripadvisor by 1.6% in the 1st quarter. Mason Street Advisors LLC now owns 14,662 shares of the travel company’s stock valued at $754,000 after buying an additional 227 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Tripadvisor by 3.2% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 7,378 shares of the travel company’s stock valued at $380,000 after buying an additional 231 shares during the period. State Treasurer State of Michigan increased its stake in shares of Tripadvisor by 1.0% in the 1st quarter. State Treasurer State of Michigan now owns 29,654 shares of the travel company’s stock valued at $1,526,000 after buying an additional 300 shares during the period. Finally, ETF Managers Group LLC increased its stake in shares of Tripadvisor by 9.7% in the 1st quarter. ETF Managers Group LLC now owns 3,499 shares of the travel company’s stock valued at $180,000 after buying an additional 309 shares during the period. 86.72% of the stock is owned by hedge funds and other institutional investors.
TripAdvisor, Inc operates as an online travel company. It operates in two segments, Hotel and Non-Hotel. The company operates TripAdvisor-branded Websites, including tripadvisor.com in the United States; and localized versions of the Website in 48 markets and 28 languages. It also manages and operates other travel media brands that provide users the comprehensive travel-planning and trip-taking resources in the travel industry, such as airfarewatchdog.com, bookingbuddy.com, cruisecritic.com, familyvacationcritic.com, flipkey.com, thefork.com, holidaywatchdog.com, housetrip.com, jetsetter.com, niumba.com, onetime.com, oyster.com, seatguru.com, smartertravel.com, tingo.com, vacationhomerentals.com, and viator.com, as well as www.bokun.io and holidaylettings.co.uk.
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