Zacks Investment Research upgraded shares of Peak Resorts Inc. (NASDAQ:SKIS) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $5.75 target price on the stock.
According to Zacks, “Peak Resorts, Inc. is an owner and operator of ski resorts in the U.S. The resorts under the company’s umbrella offer a breadth of activities, services and amenities, including skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction and mountain biking and other summer activities. Its ski properties are located throughout the Midwest, Northeast and Southeast United States. Peak Resorts, Inc. is headquartered in Wildwood, Missouri. “
Several other research firms have also issued reports on SKIS. FBR & Co reissued a buy rating and set a $4.00 target price on shares of Peak Resorts in a report on Monday, July 18th. Oppenheimer Holdings Inc. reissued an outperform rating and set a $7.00 target price on shares of Peak Resorts in a report on Tuesday, September 13th. Janney Montgomery Scott reissued a buy rating and set a $5.00 target price on shares of Peak Resorts in a report on Sunday, July 17th. Finally, Macquarie raised Peak Resorts from an underperform rating to an outperform rating in a report on Thursday, May 26th. Seven research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of $6.29.
Shares of Peak Resorts (NASDAQ:SKIS) opened at 5.01 on Tuesday. Peak Resorts has a one year low of $2.60 and a one year high of $7.70. The company’s market capitalization is $70.05 million. The firm’s 50-day moving average price is $4.85 and its 200 day moving average price is $4.11.
Peak Resorts (NASDAQ:SKIS) last released its earnings results on Thursday, September 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.03. The company had revenue of $7.10 million for the quarter, compared to analyst estimates of $8.12 million. Peak Resorts had a negative return on equity of 6.17% and a negative net margin of 4.16%. Peak Resorts’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) EPS. Analysts anticipate that Peak Resorts will post $0.27 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Peak Resorts by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 87,332 shares of the company’s stock worth $398,000 after buying an additional 5,989 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Peak Resorts during the second quarter worth approximately $856,000. Finally, Vanguard Group Inc. raised its stake in shares of Peak Resorts by 5.6% in the second quarter. Vanguard Group Inc. now owns 190,415 shares of the company’s stock worth $869,000 after buying an additional 10,100 shares during the last quarter. 50.77% of the stock is currently owned by hedge funds and other institutional investors.
About Peak Resorts
Peak Resorts, Inc is a holding company. The Company, through its subsidiaries, owns or leases, and operates day ski and overnight drive ski resorts in the United States. As of April 30, 2015, the Company operated 13 ski resorts, including five overnight drive ski resorts and eight day ski resorts located across six states, including Wildwood and Weston, Missouri; Bellefontaine and Cleveland, Ohio; Paoli, Indiana; Blakeslee and Lake Harmony, Pennsylvania; Bartlett, Bennington and Pinkham Notch, New Hampshire, and West Dover, Vermont.
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