Zacks Investment Research lowered shares of Belmond (NYSE:BEL) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “Belmond is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established almost 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, the Company owns and operates unique and distinctive hotel, rail and river cruise experiences in many of the world’s most celebrated destinations. From city landmarks to intimate resorts, the collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, six luxury tourist trains including the Venice Simplon-Orient-Express, three river cruises and ’21’, one of New York’s most storied restaurants. “

Separately, Deutsche Bank cut their target price on Belmond from $13.00 to $12.00 and set a hold rating for the company in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $14.33.

Shares of Belmond (BEL) opened at $12.30 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.77 and a current ratio of 1.92. The stock has a market capitalization of $1,233.19, a price-to-earnings ratio of 63.42 and a beta of 1.20. Belmond has a one year low of $11.00 and a one year high of $14.45.

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Belmond by 2,439.0% during the second quarter. JPMorgan Chase & Co. now owns 50,654 shares of the company’s stock worth $674,000 after acquiring an additional 48,659 shares during the last quarter. Nationwide Fund Advisors increased its stake in Belmond by 2.9% during the second quarter. Nationwide Fund Advisors now owns 71,187 shares of the company’s stock worth $947,000 after acquiring an additional 1,975 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Belmond by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 375,603 shares of the company’s stock worth $5,127,000 after acquiring an additional 19,952 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Belmond by 60.5% during the third quarter. BNP Paribas Arbitrage SA now owns 46,797 shares of the company’s stock worth $639,000 after acquiring an additional 17,647 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in Belmond by 2.9% during the second quarter. New York State Common Retirement Fund now owns 327,676 shares of the company’s stock worth $4,358,000 after acquiring an additional 9,199 shares during the last quarter. 80.88% of the stock is owned by institutional investors.

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About Belmond

Belmond Ltd. (Belmond) is a hotel company and adventure travel operator. As of December 31, 2016, Belmond owned, partially-owned and/or operated 45 properties, consisting of 34 individual deluxe hotels, 29 of which are owned (including nine under long-term lease), five European tourist trains, two cruise ships in Myanmar (one of which is under long-term charter), one French canal cruise business consisting of five small canal boats, and one stand-alone restaurant in the United States.

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