La Quinta (LQ) Shares Gap Up to $19.45

La Quinta Holdings Inc (NYSE:LQ) shares gapped up prior to trading on Friday . The stock had previously closed at $17.90, but opened at $19.45. La Quinta shares last traded at $20.18, with a volume of 10755600 shares traded.

Several research analysts recently weighed in on the company. TheStreet cut La Quinta from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Zacks Investment Research raised La Quinta from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, October 11th. Wells Fargo & Co raised La Quinta from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, October 6th. UBS Group raised La Quinta from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, Morgan Stanley raised La Quinta from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.81.

The company has a market cap of $2,370.00, a P/E ratio of 77.62, a price-to-earnings-growth ratio of 9.15 and a beta of 1.85. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.38.

La Quinta (NYSE:LQ) last announced its earnings results on Wednesday, November 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). La Quinta had a net margin of 3.11% and a return on equity of 6.23%. The company had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $272.52 million. During the same period in the prior year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. analysts predict that La Quinta Holdings Inc will post 0.33 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in LQ. Schwab Charles Investment Management Inc. lifted its holdings in shares of La Quinta by 5.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 507,218 shares of the company’s stock valued at $7,492,000 after purchasing an additional 27,651 shares during the last quarter. Wells Fargo & Company MN lifted its stake in La Quinta by 13.2% in the 2nd quarter. Wells Fargo & Company MN now owns 72,704 shares of the company’s stock worth $1,074,000 after acquiring an additional 8,498 shares in the last quarter. Alliancebernstein L.P. lifted its stake in La Quinta by 201.1% in the 2nd quarter. Alliancebernstein L.P. now owns 394,100 shares of the company’s stock worth $5,821,000 after acquiring an additional 263,200 shares in the last quarter. Nationwide Fund Advisors lifted its stake in La Quinta by 20.9% in the 2nd quarter. Nationwide Fund Advisors now owns 161,069 shares of the company’s stock worth $2,379,000 after acquiring an additional 27,878 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in La Quinta by 0.7% in the 2nd quarter. New York State Common Retirement Fund now owns 157,357 shares of the company’s stock worth $2,324,000 after acquiring an additional 1,107 shares in the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.

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About La Quinta

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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