Zacks Investment Research upgraded shares of La Quinta Holdings Inc. (NYSE:LQ) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $20.00 price objective on the stock.
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. “
Several other analysts have also commented on LQ. TheStreet raised La Quinta Holdings from a c rating to a b rating in a report on Tuesday, August 8th. Morgan Stanley raised La Quinta Holdings from an equal weight rating to an overweight rating and raised their target price for the stock from $14.50 to $16.00 in a report on Thursday, June 15th. They noted that the move was a valuation call. BidaskClub raised La Quinta Holdings from a sell rating to a hold rating in a report on Saturday, August 5th. Finally, Wells Fargo & Company raised La Quinta Holdings from a market perform rating to an outperform rating and set a $22.00 target price on the stock in a report on Friday, October 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $16.08.
La Quinta Holdings (LQ) traded up 0.55% during midday trading on Wednesday, hitting $18.27. The company’s stock had a trading volume of 1,960,272 shares. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 51.61 and a beta of 1.88. The company’s 50-day moving average is $16.62 and its 200 day moving average is $14.94. La Quinta Holdings has a one year low of $9.73 and a one year high of $18.45.
La Quinta Holdings (NYSE:LQ) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business 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%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. On average, analysts predict that La Quinta Holdings will post $0.40 EPS for the current year.
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Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in La Quinta Holdings by 1.9% in the first quarter. Bank of America Corp DE now owns 22,770 shares of the company’s stock valued at $308,000 after purchasing an additional 433 shares during the period. BNP Paribas Arbitrage SA grew its holdings in La Quinta Holdings by 4.5% in the second quarter. BNP Paribas Arbitrage SA now owns 270,915 shares of the company’s stock valued at $4,001,000 after purchasing an additional 11,560 shares during the period. Bank of New York Mellon Corp grew its holdings in La Quinta Holdings by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 405,802 shares of the company’s stock valued at $5,485,000 after purchasing an additional 23,456 shares during the period. YG Partners LLC grew its holdings in La Quinta Holdings by 19.8% in the first quarter. YG Partners LLC now owns 177,474 shares of the company’s stock valued at $2,399,000 after purchasing an additional 29,358 shares during the period. Finally, Ranger Global Real Estate Advisors LLC acquired a new stake in La Quinta Holdings in the first quarter valued at approximately $4,562,000. 97.02% of the stock is currently owned by hedge funds and other institutional investors.
About La Quinta Holdings
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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