Trip.com Group (NASDAQ:TCOM) Reaches New 1-Year High – Here’s Why

Trip.com Group Limited (NASDAQ:TCOM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $74.70 and last traded at $74.70, with a volume of 156613 shares traded. The stock had previously closed at $69.07.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TCOM. Barclays raised their target price on shares of Trip.com Group from $76.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein began coverage on shares of Trip.com Group in a research report on Monday, November 4th. They set an “outperform” rating and a $85.00 target price on the stock. Macquarie raised their target price on shares of Trip.com Group from $75.40 to $80.80 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Mizuho lifted their price target on shares of Trip.com Group from $65.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, HSBC upgraded shares of Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trip.com Group has a consensus rating of “Buy” and a consensus price target of $74.18.

Trip.com Group Stock Performance

The stock’s 50 day moving average price is $64.25 and its 200 day moving average price is $53.40. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.14. The firm has a market cap of $46.37 billion, a PE ratio of 21.51, a P/E/G ratio of 1.04 and a beta of 0.38.

Hedge Funds Weigh In On Trip.com Group

A number of hedge funds have recently made changes to their positions in TCOM. Cetera Advisors LLC purchased a new position in shares of Trip.com Group in the 1st quarter valued at $432,000. CWM LLC increased its stake in Trip.com Group by 13.5% during the 2nd quarter. CWM LLC now owns 2,107 shares of the company’s stock worth $99,000 after buying an additional 251 shares during the period. QRG Capital Management Inc. increased its stake in Trip.com Group by 2.6% during the 2nd quarter. QRG Capital Management Inc. now owns 13,772 shares of the company’s stock worth $647,000 after buying an additional 344 shares during the period. SG Americas Securities LLC purchased a new stake in Trip.com Group during the 2nd quarter worth $818,000. Finally, Diversified Trust Co increased its stake in Trip.com Group by 14.7% during the 2nd quarter. Diversified Trust Co now owns 28,309 shares of the company’s stock worth $1,331,000 after buying an additional 3,623 shares during the period. Hedge funds and other institutional investors own 35.41% of the company’s stock.

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.