Zacks Investment Research Downgrades La Quinta Holdings Inc. (LQ) to Sell
La Quinta Holdings Inc. (NYSE:LQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “La Quinta Holdings Inc. is an owner, operator and franchisor of select-service hotels in the United States, primarily serving the midscale and upper-midscale segments. It provides franchise services to hotels in the U.S., Canada and Mexico under the La Quinta Inns & Suites (TM) and La Quinta Inn (TM) brands. La Quinta Holdings Inc. is headquartered in Irving, Texas. “
A number of other equities research analysts have also commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $18.00 price objective on shares of La Quinta Holdings in a research note on Monday, June 27th. Goldman Sachs Group Inc. initiated coverage on shares of La Quinta Holdings in a research note on Monday, September 26th. They issued a “sell” rating and a $9.00 price objective on the stock. Wells Fargo & Co. lowered shares of La Quinta Holdings from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 14th. They noted that the move was a valuation call. Wolfe Research started coverage on shares of La Quinta Holdings in a research note on Wednesday, July 6th. They issued a “market perform” rating on the stock. Finally, Citigroup Inc. cut their target price on shares of La Quinta Holdings from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.38.
Shares of La Quinta Holdings (NYSE:LQ) traded down 0.27% during midday trading on Wednesday, hitting $11.00. 36,100 shares of the company were exchanged. La Quinta Holdings has a one year low of $9.42 and a one year high of $17.46. The firm’s 50 day moving average price is $11.24 and its 200 day moving average price is $11.77. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 1375.00 and a beta of 1.69.
La Quinta Holdings (NYSE:LQ) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. La Quinta Holdings had a net margin of 0.09% and a return on equity of 9.49%. The company had revenue of $269.60 million for the quarter, compared to analyst estimates of $266.78 million. During the same period in the prior year, the firm posted $0.19 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts forecast that La Quinta Holdings will post $0.54 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LQ. EverPoint Asset Management LLC acquired a new position in La Quinta Holdings during the second quarter worth $116,000. Neuberger Berman Group LLC acquired a new position in La Quinta Holdings during the second quarter worth $124,000. CHICAGO TRUST Co NA acquired a new position in La Quinta Holdings during the second quarter worth $134,000. Teacher Retirement System of Texas raised its position in La Quinta Holdings by 17.4% in the second quarter. Teacher Retirement System of Texas now owns 13,088 shares of the company’s stock worth $149,000 after buying an additional 1,936 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in La Quinta Holdings during the second quarter worth $165,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.
La Quinta Holdings Company Profile
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale segments under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment derives its earnings from the operation of owned hotel properties located in the United States.
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