Choice Hotels International Inc. (CHH) Sees Large Volume Increase
Shares of Choice Hotels International Inc. (NYSE:CHH) saw an uptick in trading volume on Tuesday . 282,752 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 200,618 shares.The stock last traded at $49.03 and had previously closed at $48.93.
Several research firms recently weighed in on CHH. Zacks Investment Research upgraded shares of Choice Hotels International from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. Morgan Stanley reiterated a “sell” rating and issued a $48.00 target price on shares of Choice Hotels International in a research note on Wednesday, August 3rd. Bank of America Corp. reiterated a “buy” rating on shares of Choice Hotels International in a research note on Monday, July 18th. Wolfe Research started coverage on shares of Choice Hotels International in a research note on Wednesday, July 6th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. cut shares of Choice Hotels International from a “neutral” rating to an “underweight” rating and set a $43.00 price target for the company. in a research note on Wednesday, June 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.89.
The stock has a market capitalization of $2.75 billion and a P/E ratio of 21.58. The firm has a 50 day moving average of $48.39 and a 200-day moving average of $48.82.
Choice Hotels International (NYSE:CHH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $241.80 million for the quarter, compared to analyst estimates of $244.21 million. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, equities research analysts forecast that Choice Hotels International Inc. will post $2.41 EPS for the current year.
In related news, SVP Simone Wu sold 7,625 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $45.92, for a total value of $350,140.00. Following the transaction, the senior vice president now owns 15,534 shares in the company, valued at approximately $713,321.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Patrick Pacious sold 4,745 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $48.73, for a total transaction of $231,223.85. Following the completion of the transaction, the chief operating officer now owns 113,062 shares in the company, valued at approximately $5,509,511.26. The disclosure for this sale can be found here.
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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