La Quinta Holdings Inc. (NYSE:LQ) shares hit a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $15.53 and last traded at $15.51, with a volume of 1,248,932 shares. The stock had previously closed at $15.30.
The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $263.40 million for the quarter, compared to analyst estimates of $260.44 million. La Quinta Holdings had a return on equity of 7.28% and a net margin of 4.13%. La Quinta Holdings’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS.
Several analysts recently weighed in on LQ shares. Morgan Stanley raised La Quinta Holdings from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $14.50 to $16.00 in a research note on Thursday, June 15th. They noted that the move was a valuation call. Zacks Investment Research lowered La Quinta Holdings from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. BidaskClub raised La Quinta Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, TheStreet upgraded La Quinta Holdings from a “c” rating to a “b” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $13.41.
Large investors have recently modified their holdings of the company. Prudential Financial Inc. acquired a new stake in shares of La Quinta Holdings during the first quarter worth $558,000. JPMorgan Chase & Co. increased its stake in shares of La Quinta Holdings by 24.0% in the first quarter. JPMorgan Chase & Co. now owns 7,676,423 shares of the company’s stock worth $103,785,000 after buying an additional 1,487,652 shares during the last quarter. Aberdeen Asset Management PLC UK increased its stake in shares of La Quinta Holdings by 12.9% in the first quarter. Aberdeen Asset Management PLC UK now owns 2,933,413 shares of the company’s stock worth $39,660,000 after buying an additional 336,292 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of La Quinta Holdings by 88.9% in the first quarter. Envestnet Asset Management Inc. now owns 21,535 shares of the company’s stock worth $291,000 after buying an additional 10,134 shares during the last quarter. Finally, Iridian Asset Management LLC CT acquired a new stake in shares of La Quinta Holdings during the first quarter worth $1,815,000. Institutional investors and hedge funds own 98.75% of the company’s stock.
The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 42.80 and a beta of 1.86. The firm has a 50 day moving average price of $14.91 and a 200 day moving average price of $14.21.
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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 sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.
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