Marriott International (NASDAQ:MAR) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Thursday.
Several other equities research analysts also recently issued reports on the company. Morgan Stanley reiterated a “buy” rating on shares of Marriott International in a report on Friday, December 8th. Deutsche Bank reissued a “hold” rating and set a $124.00 target price on shares of Marriott International in a research note on Wednesday, December 6th. Barclays boosted their target price on Marriott International from $105.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 28th. Sanford C. Bernstein cut Marriott International from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 16th. Finally, Robert W. Baird boosted their target price on Marriott International from $111.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $111.62.
Shares of Marriott International (NASDAQ MAR) opened at $133.97 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $48,835.66, a price-to-earnings ratio of 36.40, a P/E/G ratio of 3.35 and a beta of 1.35. Marriott International has a 1-year low of $81.04 and a 1-year high of $135.18.
Marriott International declared that its board has initiated a stock buyback program on Thursday, November 9th that allows the company to buyback 30,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
In related news, insider Deborah Marriott Harrison sold 130,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $119.17, for a total value of $15,492,100.00. Following the completion of the sale, the insider now directly owns 114,155 shares of the company’s stock, valued at approximately $13,603,851.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony Capuano sold 19,510 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $133.51, for a total value of $2,604,780.10. Following the completion of the sale, the executive vice president now directly owns 23,159 shares of the company’s stock, valued at $3,091,958.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 210,145 shares of company stock valued at $25,787,303. Insiders own 11.32% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MAR. AHL Partners LLP raised its stake in Marriott International by 230.4% during the 2nd quarter. AHL Partners LLP now owns 19,615 shares of the company’s stock valued at $1,967,000 after acquiring an additional 13,679 shares during the last quarter. Numeric Investors LLC purchased a new stake in Marriott International during the 2nd quarter valued at approximately $772,000. State Board of Administration of Florida Retirement System raised its stake in Marriott International by 0.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 467,559 shares of the company’s stock valued at $51,553,000 after acquiring an additional 3,140 shares during the last quarter. Asset Advisors Corp raised its stake in Marriott International by 1.0% during the 3rd quarter. Asset Advisors Corp now owns 121,972 shares of the company’s stock valued at $13,449,000 after acquiring an additional 1,175 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Marriott International by 28.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,259,396 shares of the company’s stock valued at $126,329,000 after acquiring an additional 275,382 shares during the last quarter. 66.70% of the stock is owned by hedge funds and other institutional investors.
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About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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