La Quinta (LQ) Downgraded by Wells Fargo & Co

Wells Fargo & Co downgraded shares of La Quinta (NYSE:LQ) from an outperform rating to a market perform rating in a research note released on Monday morning, The Fly reports.

A number of other research analysts have also weighed in on LQ. Goldman Sachs Group raised shares of La Quinta from a sell rating to a neutral rating in a research note on Friday, January 19th. Deutsche Bank lifted their price target on shares of La Quinta to $23.00 and gave the company a buy rating in a research note on Friday, January 19th. UBS Group raised shares of La Quinta from a hold rating to a buy rating in a research note on Thursday, November 2nd. Morgan Stanley raised shares of La Quinta from an equal weight rating to an overweight rating in a research note on Wednesday, January 17th. Finally, Zacks Investment Research raised shares of La Quinta from a sell rating to a hold rating in a research note on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $18.85.

La Quinta (LQ) opened at $20.00 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.38. La Quinta has a one year low of $11.76 and a one year high of $21.06. The firm has a market cap of $2,275.30, a P/E ratio of 76.93, a price-to-earnings-growth ratio of 8.60 and a beta of 1.85.

La Quinta (NYSE:LQ) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $272.52 million. During the same period in the previous year, the firm posted $0.19 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. equities research analysts expect that La Quinta will post 0.33 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund lifted its position in shares of La Quinta by 0.7% in the second quarter. New York State Common Retirement Fund now owns 157,357 shares of the company’s stock worth $2,324,000 after purchasing an additional 1,107 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of La Quinta by 2.1% in the second quarter. Public Employees Retirement System of Ohio now owns 57,972 shares of the company’s stock worth $856,000 after purchasing an additional 1,179 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of La Quinta by 11.4% in the second quarter. Voya Investment Management LLC now owns 38,884 shares of the company’s stock worth $574,000 after purchasing an additional 3,994 shares in the last quarter. American International Group Inc. lifted its position in shares of La Quinta by 8.1% in the third quarter. American International Group Inc. now owns 54,716 shares of the company’s stock worth $958,000 after purchasing an additional 4,091 shares in the last quarter. Finally, Fox Run Management L.L.C. lifted its position in shares of La Quinta by 17.5% in the fourth quarter. Fox Run Management L.L.C. now owns 38,425 shares of the company’s stock worth $709,000 after purchasing an additional 5,725 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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La Quinta Company Profile

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.

The Fly

Analyst Recommendations for La Quinta (NYSE:LQ)

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