JPMorgan Chase & Co. Cuts Trip.com Group (NASDAQ:TCOM) Price Target to $75.00

Trip.com Group (NASDAQ:TCOM) had its price objective trimmed by JPMorgan Chase & Co. from $80.00 to $75.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

TCOM has been the topic of several other reports. Benchmark reaffirmed a “buy” rating and issued a $80.00 target price on shares of Trip.com Group in a research report on Tuesday. StockNews.com lowered Trip.com Group from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen increased their target price on Trip.com Group from $56.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Mizuho increased their target price on Trip.com Group from $65.00 to $78.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Hsbc Global Res raised Trip.com Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $77.08.

Trip.com Group Stock Performance

TCOM stock opened at $57.20 on Thursday. Trip.com Group has a 12-month low of $38.23 and a 12-month high of $77.18. 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 stock’s 50 day simple moving average is $67.71 and its 200 day simple moving average is $61.61. The firm has a market cap of $36.84 billion, a P/E ratio of 17.13, a P/E/G ratio of 0.67 and a beta of 0.37.

Hedge Funds Weigh In On Trip.com Group

A number of hedge funds and other institutional investors have recently modified their holdings of TCOM. Raymond James & Associates boosted its position in shares of Trip.com Group by 9.1% in the 3rd quarter. Raymond James & Associates now owns 40,998 shares of the company’s stock valued at $2,437,000 after purchasing an additional 3,425 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its position in Trip.com Group by 79.2% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 33,062 shares of the company’s stock worth $1,965,000 after acquiring an additional 14,612 shares during the period. New York State Common Retirement Fund grew its stake in Trip.com Group by 155.1% during the 3rd quarter. New York State Common Retirement Fund now owns 1,145,863 shares of the company’s stock valued at $68,099,000 after acquiring an additional 696,766 shares in the last quarter. WT Asset Management Ltd purchased a new position in Trip.com Group during the 3rd quarter valued at about $1,373,000. Finally, Van ECK Associates Corp grew its stake in Trip.com Group by 27.7% during the 3rd quarter. Van ECK Associates Corp now owns 142,745 shares of the company’s stock valued at $8,770,000 after acquiring an additional 30,988 shares in the last quarter. Institutional investors and hedge funds 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.