Extended Stay America, Inc. (STAY) Cut to Sell at Zacks Investment Research

Extended Stay America, Inc. (NYSE:STAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina. “

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Extended Stay America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $21.00 price objective (up previously from $20.00) on shares of Extended Stay America in a report on Thursday, June 29th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Extended Stay America in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $20.75.

Extended Stay America (NYSE STAY) opened at 20.80 on Tuesday. The stock has a 50 day moving average of $19.84 and a 200 day moving average of $18.77. Extended Stay America has a one year low of $13.26 and a one year high of $20.95. The firm has a market cap of $4.00 billion, a PE ratio of 26.70 and a beta of 1.06.

Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $338.36 million during the quarter, compared to the consensus estimate of $342.70 million. Extended Stay America had a return on equity of 14.53% and a net margin of 5.24%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, equities analysts forecast that Extended Stay America will post $1.02 earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Caxton Associates LP boosted its holdings in Extended Stay America by 0.4% in the second quarter. Caxton Associates LP now owns 27,400 shares of the company’s stock worth $530,000 after purchasing an additional 100 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Extended Stay America by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after purchasing an additional 367 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Extended Stay America by 3.3% in the first quarter. Public Employees Retirement System of Ohio now owns 28,640 shares of the company’s stock worth $457,000 after purchasing an additional 918 shares during the period. Paragon Capital Management Ltd boosted its holdings in Extended Stay America by 15.1% in the second quarter. Paragon Capital Management Ltd now owns 11,589 shares of the company’s stock worth $224,000 after purchasing an additional 1,521 shares during the period. Finally, Reinhart Partners Inc. boosted its holdings in Extended Stay America by 1.4% in the second quarter. Reinhart Partners Inc. now owns 141,590 shares of the company’s stock worth $2,741,000 after purchasing an additional 1,980 shares during the period. 99.39% of the stock is owned by hedge funds and other institutional investors.

About Extended Stay America

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

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