La Quinta Holdings Inc. (NYSE:LQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “La Quinta Holdings Inc. is an owner, operator and franchisor of select-service hotels in the United States, primarily serving the midscale and upper-midscale segments. It provides franchise services to hotels in the U.S., Canada and Mexico under the La Quinta Inns & Suites (TM) and La Quinta Inn (TM) brands. La Quinta Holdings Inc. is headquartered in Irving, Texas. “
Other research analysts also recently issued research reports about the company. Deutsche Bank AG reiterated a “buy” rating and issued a $18.00 price objective on shares of La Quinta Holdings in a report on Monday, June 27th. Wells Fargo & Co. downgraded La Quinta Holdings from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 14th. They noted that the move was a valuation call. Citigroup Inc. dropped their price target on La Quinta Holdings from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Morgan Stanley set a $11.00 price target on La Quinta Holdings and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Finally, Bank of America Corp. restated a “sell” rating on shares of La Quinta Holdings in a research note on Monday, July 18th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $14.38.
Shares of La Quinta Holdings (NYSE:LQ) opened at 10.86 on Wednesday. The stock has a market capitalization of $1.27 billion, a PE ratio of 1357.50 and a beta of 1.69. The stock has a 50 day moving average price of $11.27 and a 200-day moving average price of $11.78. La Quinta Holdings has a 52-week low of $9.42 and a 52-week high of $17.46.
La Quinta Holdings (NYSE:LQ) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. La Quinta Holdings had a return on equity of 9.49% and a net margin of 0.09%. The business had revenue of $269.60 million for the quarter, compared to the consensus estimate of $266.78 million. During the same quarter in the prior year, the business posted $0.19 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts anticipate that La Quinta Holdings will post $0.54 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in La Quinta Holdings by 621.0% in the second quarter. Royal Bank of Canada now owns 15,589 shares of the company’s stock worth $177,000 after buying an additional 13,427 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in La Quinta Holdings by 233.3% in the second quarter. Point72 Asset Management L.P. now owns 29,000 shares of the company’s stock worth $331,000 after buying an additional 20,300 shares during the last quarter. EverPoint Asset Management LLC bought a new stake in La Quinta Holdings during the second quarter worth $116,000. Paloma Partners Management Co boosted its stake in La Quinta Holdings by 124.6% in the second quarter. Paloma Partners Management Co now owns 120,339 shares of the company’s stock worth $1,371,000 after buying an additional 66,767 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in La Quinta Holdings during the second quarter worth $911,000. 98.80% of the stock is owned by institutional investors.
La Quinta Holdings Company Profile
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale segments under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment derives its earnings from the operation of owned hotel properties located in the United States.
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