NEW YORK (AP) -- Expedia Inc. shares fell Monday as a Deutsche Bank analyst lowered his investment rating on the online travel company.
Analyst Ross Sandler downgraded Expedia's stock rating to "Hold" from "Buy" in a note to clients Monday, saying he's worried that the company will continue to struggle with tough competition and may cut its guidance for the year.
Besides its namesake website, Expedia also owns travel sites Hotwire, Trivago and Hotels.com. Sandler said that recent changes in Hotels.com's management make him wary of poor financial performance in that division.
Expedia did not immediately respond to an emailed request for comment. The company is expected to release third quarter earnings on Oct. 30.
Shares of Expedia fell $3.33, or 6.4 percent, to $48.40 in afternoon trading. That's near the 52-week low of $45.69 it reached in August.
Sandler left his "Buy" investment rating unchanged on rivals Priceline.com Inc. and TripAdvisor Inc.
Priceline.com shares rose $5.47 to $1,015.92 Monday afternoon. TripAdvisor shares rose 79 cents, or 1 percent, to $74.80.
Shares of another online travel company, Orbitz Worldwide Inc., fell 22 cents, or 2.4 percent, to $8.96.
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