Booking (NASDAQ:BKNG) Reaches New 12-Month High – Should You Buy?

Booking Holdings Inc. (NASDAQ:BKNG)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $5,258.20 and last traded at $5,238.73, with a volume of 44684 shares trading hands. The stock had previously closed at $5,224.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BKNG. JMP Securities boosted their target price on shares of Booking from $5,000.00 to $5,400.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Barclays upped their price target on shares of Booking from $4,500.00 to $5,100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Bank of America upped their price target on shares of Booking from $4,448.00 to $4,850.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $4,600.00 price objective on shares of Booking in a report on Tuesday, October 29th. Finally, Susquehanna upped their price target on Booking from $4,100.00 to $5,500.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and an average price target of $4,820.50.

Booking Trading Up 0.6 %

The stock has a market cap of $173.55 billion, a P/E ratio of 35.58, a PEG ratio of 1.62 and a beta of 1.41. The firm has a 50-day simple moving average of $4,664.10 and a two-hundred day simple moving average of $4,122.74.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $8.75 per share. This represents a $35.00 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, December 6th. Booking’s payout ratio is 23.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BKNG. Jamison Private Wealth Management Inc. bought a new position in shares of Booking in the third quarter worth $25,000. Grove Bank & Trust increased 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 worth $28,000 after purchasing an additional 4 shares during the period. POM Investment Strategies LLC bought a new position in shares of Booking in the second quarter worth $28,000. Kings Path Partners LLC bought a new position in shares of Booking in the second quarter worth $28,000. Finally, West Financial Advisors LLC bought a new position in shares of Booking in the third quarter worth $29,000. Institutional investors own 92.42% of the company’s stock.

About Booking

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.