Sanford C. Bernstein Initiates Coverage on Trip.com Group (NASDAQ:TCOM)

Stock analysts at Sanford C. Bernstein started coverage on shares of Trip.com Group (NASDAQ:TCOM) in a report released on Monday, MarketBeat reports. The firm set an “outperform” rating and a $85.00 price target on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 24.23% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. HSBC lowered shares of Trip.com Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Benchmark restated a “buy” rating and issued a $72.00 target price on shares of Trip.com Group in a research note on Tuesday, August 27th. Macquarie upgraded shares of Trip.com Group to a “strong-buy” rating in a report on Monday, October 7th. Citigroup increased their target price on shares of Trip.com Group from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, StockNews.com cut shares of Trip.com Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.89.

Trip.com Group Price Performance

TCOM opened at $68.42 on Monday. The company has a fifty day simple moving average of $56.61 and a 200 day simple moving average of $51.33. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.15. The stock has a market cap of $44.07 billion, a P/E ratio of 23.92 and a beta of 0.39. Trip.com Group has a 12 month low of $31.55 and a 12 month high of $69.67.

Trip.com Group (NASDAQ:TCOM) last released its quarterly earnings data on Monday, August 26th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.22. Trip.com Group had a return on equity of 11.52% and a net margin of 28.78%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. On average, research analysts expect that Trip.com Group will post 2.93 EPS for the current year.

Institutional Trading of Trip.com Group

Hedge funds have recently added to or reduced their stakes in the company. Capital World Investors grew its stake in shares of Trip.com Group by 27.5% in the first quarter. Capital World Investors now owns 48,971,654 shares of the company’s stock valued at $2,149,366,000 after acquiring an additional 10,576,028 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Trip.com Group by 4,800.0% during the second quarter. 1832 Asset Management L.P. now owns 1,399,298 shares of the company’s stock worth $65,767,000 after purchasing an additional 1,370,741 shares during the period. National Bank of Canada FI raised its position in shares of Trip.com Group by 413,028.8% in the first quarter. National Bank of Canada FI now owns 859,308 shares of the company’s stock valued at $37,715,000 after buying an additional 859,100 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Trip.com Group by 89.6% in the second quarter. Marshall Wace LLP now owns 1,703,234 shares of the company’s stock valued at $80,052,000 after buying an additional 804,885 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Trip.com Group by 155.1% during the 3rd quarter. New York State Common Retirement Fund now owns 1,145,863 shares of the company’s stock worth $68,099,000 after acquiring an additional 696,766 shares during the period. 35.41% of the stock is owned by institutional investors and hedge funds.

About Trip.com Group

Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.