Zacks Investment Research cut shares of Ashford (NYSEAMERICAN:AINC) from a strong-buy rating to a hold rating in a research report released on Tuesday.
According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “
AINC has been the subject of a number of other reports. B. Riley downgraded Ashford from a buy rating to a neutral rating and raised their price target for the company from $67.00 to $81.00 in a research note on Tuesday, November 7th. TheStreet upgraded Ashford from a d rating to a c- rating in a research note on Wednesday, October 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $80.00.
Ashford declared that its Board of Directors has approved a stock buyback program on Monday, December 11th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
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Ashford Inc provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc (Ashford Prime) and its subsidiaries.
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