TripAdvisor (NASDAQ:TRIP) Price Target Cut to $6.00 by Analysts at Cantor Fitzgerald

TripAdvisor (NASDAQ:TRIP) had its target price cut by Cantor Fitzgerald from $8.00 to $6.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the travel company’s stock. Cantor Fitzgerald‘s price objective would indicate a potential downside of 18.70% from the company’s current price.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. reduced their target price on TripAdvisor from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $16.00 price objective on shares of TripAdvisor in a research report on Monday, July 20th. B. Riley Financial reduced their price objective on TripAdvisor from $13.00 to $12.50 and set a “neutral” rating on the stock in a research note on Monday, August 10th. UBS Group reduced their price objective on TripAdvisor from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of TripAdvisor in a report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, TripAdvisor has an average rating of “Reduce” and a consensus target price of $13.73.

TripAdvisor Trading Down 27.6%

Shares of TRIP stock opened at $7.38 on Friday. The company has a market capitalization of $864.94 million, a P/E ratio of 738.74, a P/E/G ratio of 4.11 and a beta of 0.87. TripAdvisor has a 12-month low of $7.20 and a 12-month high of $17.53. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average price of $9.00 and a 200 day moving average price of $10.94.

TripAdvisor (NASDAQ:TRIP) last issued its quarterly earnings data on Thursday, November 5th. The travel company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.06). The firm had revenue of $436.40 million for the quarter, compared to the consensus estimate of $447.39 million. TripAdvisor had a return on equity of 4.23% and a net margin of 0.28%. TripAdvisor’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 earnings per share. Research analysts forecast that TripAdvisor will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at TripAdvisor

In related news, CEO Almir Ambeskovic sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were 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 owned 30,456 shares in the company, valued at $287,809.20. The trade was a 20.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 Investors Weigh In On TripAdvisor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its stake in shares of TripAdvisor by 50.4% during the third quarter. Maryland State Retirement & Pension System now owns 25,509 shares of the travel company’s stock valued at $214,000 after acquiring an additional 8,551 shares during the period. Jefferies Financial Group Inc. bought a new position in TripAdvisor in the third quarter valued at about $239,000. Illinois Municipal Retirement Fund increased its position in TripAdvisor by 10.7% in the third quarter. Illinois Municipal Retirement Fund now owns 64,367 shares of the travel company’s stock worth $539,000 after purchasing an additional 6,214 shares during the period. Ballast Asset Management LP increased its position in TripAdvisor by 69.0% in the third quarter. Ballast Asset Management LP now owns 307,025 shares of the travel company’s stock worth $2,570,000 after purchasing an additional 125,380 shares during the period. Finally, Hennessy Advisors Inc. increased its position in TripAdvisor by 108.9% in the third quarter. Hennessy Advisors Inc. now owns 23,062 shares of the travel company’s stock worth $193,000 after purchasing an additional 12,021 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

TripAdvisor News Roundup

Here are the key news stories impacting TripAdvisor this week:

• Positive Sentiment: Restructuring and workforce reductions may help Tripadvisor control costs as it reviews its strategy. Tripadvisor Announces Restructuring and CEO and CFO Transitions
• Neutral Sentiment: A securities-law investigation notice followed the selloff; it adds potential legal uncertainty, but is an announcement of an investigation, not a finding of wrongdoing. Investigation Notice
• Negative Sentiment: Third-quarter adjusted earnings were $0.37 per share versus the $0.43 consensus, while revenue of $436.4 million missed the $447.39 million forecast and declined 11.1% year over year. A reported $313.1 million net loss included an approximately $370 million goodwill impairment. Tripadvisor Third-Quarter Results
• Negative Sentiment: CEO Matt Goldberg is stepping down and CFO leadership is also changing. The exits, alongside the outgoing CEO’s admission that the experiences overhaul fell short, have amplified uncertainty about the company’s turnaround. Tripadvisor Cuts Jobs; Outgoing CEO Says Experiences Overhaul Fell Short

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.