Tripadvisor (NASDAQ:TRIP) Downgraded by Citigroup

Tripadvisor (NASDAQ:TRIP – Get Rating) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, Briefing.com reports. They currently have a $30.00 price objective on the travel company’s stock, down from their prior price objective of $39.00. Citigroup’s price target would suggest a potential upside of 7.72% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group reduced their price target on shares of Tripadvisor from $36.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, February 18th. Mizuho reduced their price target on shares of Tripadvisor from $36.00 to $30.00 in a research report on Friday, February 18th. Finally, StockNews.com initiated coverage on shares of Tripadvisor in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Tripadvisor has a consensus rating of “Hold” and an average price target of $36.44.

Shares of NASDAQ:TRIP opened at $27.85 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.63 and a quick ratio of 2.63. Tripadvisor has a 1-year low of $20.25 and a 1-year high of $52.45. The company has a market capitalization of $3.86 billion, a P/E ratio of -25.79 and a beta of 1.41. The firm’s 50 day simple moving average is $26.01 and its two-hundred day simple moving average is $28.38.

Tripadvisor (NASDAQ:TRIP – Get Rating) last released its quarterly earnings data on Wednesday, February 16th. The travel company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The company had revenue of $241.00 million for the quarter, compared to the consensus estimate of $247.90 million. Tripadvisor had a negative net margin of 16.41% and a negative return on equity of 17.49%. The company’s quarterly revenue was up 107.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.58) EPS. On average, sell-side analysts anticipate that Tripadvisor will post 0.15 earnings per share for the current fiscal year.

In other news, Director Gregory B. Maffei acquired 50,000 shares of the business’s stock in a transaction on Friday, March 4th. The shares were acquired at an average price of $22.38 per share, for a total transaction of $1,119,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Par Capital Management Inc. boosted its stake in shares of Tripadvisor by 23.0% during the third quarter. Par Capital Management Inc. now owns 12,347,046 shares of the travel company’s stock valued at $417,948,000 after purchasing an additional 2,310,000 shares during the period. BlackRock Inc. boosted its stake in shares of Tripadvisor by 1.0% during the fourth quarter. BlackRock Inc. now owns 8,649,725 shares of the travel company’s stock valued at $235,792,000 after purchasing an additional 83,457 shares during the period. FIL Ltd boosted its stake in shares of Tripadvisor by 33.7% during the third quarter. FIL Ltd now owns 3,998,914 shares of the travel company’s stock valued at $135,363,000 after purchasing an additional 1,007,436 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Tripadvisor by 48.7% during the fourth quarter. Allianz Asset Management GmbH now owns 3,724,663 shares of the travel company’s stock valued at $101,534,000 after purchasing an additional 1,220,458 shares during the period. Finally, State Street Corp boosted its stake in shares of Tripadvisor by 3.1% during the fourth quarter. State Street Corp now owns 2,547,018 shares of the travel company’s stock valued at $69,432,000 after purchasing an additional 76,655 shares during the period. 69.11% of the stock is owned by hedge funds and other institutional investors.

Tripadvisor Company Profile (Get Rating)

TripAdvisor, Inc operates as an online travel company. It operates in two segments, Hotels, Media & Platform; and Experiences & Dining. The company operates TripAdvisor-branded websites, including tripadvisor.com in the United States; and localized versions of the website in 40 markets and 20 languages.

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