Zacks Investment Research lowered shares of Ctrip.com International, Ltd. (NASDAQ:CTRP) from a strong-buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Ctrip.com International, Ltd. is a leading travel service provider of hotel accommodations, airline tickets and packaged-tours in China. Ctrip aggregates information on hotels and flights and enables customers to make informed and cost-effective hotel and flight bookings. Ctrip targets primarily business and leisure travelers in China who do not travel in group. These travelers form a traditionally under-served yet fast-growing segment of the China travel industry. Ctrip has experienced substantial growth and become one of the best-known travel brands in China. “
Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus reissued a buy rating and set a $58.00 target price on shares of Ctrip.com International in a research note on Saturday, April 22nd. Benchmark Co. initiated coverage on shares of Ctrip.com International in a research note on Tuesday, April 18th. They set a buy rating and a $60.00 target price for the company. Instinet reissued a buy rating and set a $64.00 target price on shares of Ctrip.com International in a research note on Monday, May 15th. Daiwa Capital Markets reissued a buy rating and set a $65.00 target price (up previously from $55.00) on shares of Ctrip.com International in a research note on Sunday, May 14th. Finally, Bank of America Corporation set a $64.00 target price on shares of Ctrip.com International and gave the company a buy rating in a research note on Friday, May 12th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $57.73.
Ctrip.com International (NASDAQ CTRP) traded down 1.28% during mid-day trading on Tuesday, hitting $53.85. The stock had a trading volume of 5,597,563 shares. Ctrip.com International has a one year low of $39.71 and a one year high of $60.65.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Ctrip.com International by 13.0% in the second quarter. Parallel Advisors LLC now owns 2,057 shares of the company’s stock valued at $123,000 after buying an additional 237 shares during the period. Highstreet Asset Management Inc. purchased a new position in shares of Ctrip.com International during the second quarter valued at approximately $121,000. Huntington National Bank increased its position in shares of Ctrip.com International by 40.5% in the second quarter. Huntington National Bank now owns 2,325 shares of the company’s stock valued at $125,000 after buying an additional 670 shares during the period. IFP Advisors Inc increased its position in shares of Ctrip.com International by 6.7% in the second quarter. IFP Advisors Inc now owns 2,516 shares of the company’s stock valued at $136,000 after buying an additional 157 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Ctrip.com International by 1.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,646 shares of the company’s stock valued at $143,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 66.01% of the company’s stock.
Ctrip.com International Company Profile
Ctrip.com International, Ltd. (Ctrip) is a travel service provider for accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. The Company aggregates hotel and transportation information to enable business and leisure travelers to make bookings. It helps leisure travelers book tour packages and guided tours, and helps corporate clients manage their travel requirements.
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