Citigroup Trims Tripadvisor (NASDAQ:TRIP) Target Price to $16.00

Tripadvisor (NASDAQ:TRIP) had its price objective cut by Citigroup from $20.00 to $16.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the travel company’s stock.

TRIP has been the topic of a number of other research reports. The Goldman Sachs Group cut their price target on shares of Tripadvisor from $27.00 to $24.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Wedbush reissued a neutral rating and issued a $21.00 price objective on shares of Tripadvisor in a research report on Wednesday, August 7th. TD Cowen decreased their target price on shares of Tripadvisor from $25.00 to $15.00 and set a hold rating for the company in a research report on Thursday, August 22nd. B. Riley cut shares of Tripadvisor from a buy rating to a neutral rating and cut their price target for the stock from $26.00 to $19.00 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Tripadvisor from $17.00 to $14.00 and set an underweight rating for the company in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $18.33.

Tripadvisor Stock Performance

Tripadvisor stock opened at $14.77 on Tuesday. Tripadvisor has a 12-month low of $12.93 and a 12-month high of $28.76. The stock has a 50-day simple moving average of $14.87 and a 200 day simple moving average of $19.44. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 98.47, a P/E/G ratio of 2.23 and a beta of 1.39.

Tripadvisor (NASDAQ:TRIP) last released its earnings results on Tuesday, August 6th. The travel company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Tripadvisor had a return on equity of 11.81% and a net margin of 1.32%. The company had revenue of $497.00 million during the quarter, compared to analysts’ expectations of $504.76 million. During the same period last year, the firm earned $0.21 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts anticipate that Tripadvisor will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tripadvisor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its position in shares of Tripadvisor by 11.3% in the fourth quarter. Teacher Retirement System of Texas now owns 19,387 shares of the travel company’s stock valued at $417,000 after purchasing an additional 1,972 shares during the period. Norges Bank acquired a new stake in Tripadvisor during the fourth quarter worth approximately $27,807,000. Advisory Services Network LLC bought a new stake in shares of Tripadvisor during the fourth quarter worth approximately $184,000. Oliver Luxxe Assets LLC acquired a new position in shares of Tripadvisor in the fourth quarter valued at approximately $542,000. Finally, Bank of Nova Scotia bought a new position in shares of Tripadvisor during the fourth quarter worth approximately $3,908,000. 98.99% of the stock is owned by institutional investors.

About Tripadvisor

TripAdvisor, Inc operates as an online travel company, primarily engages in the provision of travel guidance products and services worldwide. The company operates in three segments: Brand Tripadvisor, Viator, and TheFork. The Brand Tripadvisor segment offers travel guidance platforms for travelers to discover, generate, and share authentic user-generated content in the form of ratings and reviews for destinations, points-of-interest, experiences, accommodations, restaurants, and cruises.