Bank of America Forecasts Strong Price Appreciation for Booking (NASDAQ:BKNG) Stock

Booking (NASDAQ:BKNG) had its target price boosted by Bank of America from $4,850.00 to $5,522.00 in a research report released on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the business services provider’s stock.

A number of other equities research analysts also recently commented on the stock. Baird R W upgraded shares of Booking to a “strong-buy” rating in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $3,590.00 price target on shares of Booking in a report on Monday, October 7th. UBS Group lifted their price target on Booking from $5,050.00 to $5,550.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and issued a $4,600.00 price objective on shares of Booking in a research report on Tuesday, October 29th. Finally, Tigress Financial upped their price target on shares of Booking from $4,580.00 to $5,600.00 and gave the stock a “strong-buy” rating in a research note on Monday, November 18th. Ten analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Booking currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,909.90.

Booking Stock Performance

Shares of Booking stock opened at $5,048.59 on Wednesday. The company has a market cap of $167.09 billion, a P/E ratio of 34.26, a PEG ratio of 2.11 and a beta of 1.41. The firm has a fifty day moving average of $4,893.64 and a two-hundred day moving average of $4,235.87. Booking has a one year low of $3,180.00 and a one year high of $5,337.24.

Booking Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $8.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.69%. Booking’s dividend payout ratio (DPR) is presently 23.75%.

Hedge Funds Weigh In On Booking

Institutional investors and hedge funds have recently modified their holdings of the company. Jamison Private Wealth Management Inc. purchased a new stake in Booking in the 3rd quarter worth approximately $25,000. Grove Bank & Trust grew its position in shares of Booking by 133.3% in the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 4 shares during the period. POM Investment Strategies LLC acquired a new position in Booking in the second quarter valued at $28,000. Kings Path Partners LLC acquired a new position in Booking in the second quarter valued at $28,000. Finally, West Financial Advisors LLC purchased a new position in Booking during the third quarter worth about $29,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Company Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.