La Quinta (LQ) Given Buy Rating at Morgan Stanley
La Quinta (NYSE:LQ)‘s stock had its “buy” rating restated by Morgan Stanley in a note issued to investors on Thursday, MarketBeat reports. They currently have a $22.00 price objective on the stock, down from their previous price objective of $23.00. Morgan Stanley’s price target indicates a potential upside of 21.41% from the company’s previous close.
LQ has been the subject of a number of other research reports. Deutsche Bank upped their price objective on shares of La Quinta to $23.00 and gave the company a “buy” rating in a report on Friday, January 19th. Goldman Sachs Group raised shares of La Quinta from a “sell” rating to a “neutral” rating in a report on Friday, January 19th. Zacks Investment Research lowered shares of La Quinta from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $18.00 price objective (down previously from $19.00) on shares of La Quinta in a report on Thursday. Finally, Wells Fargo & Co lowered shares of La Quinta from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.00.
Shares of La Quinta (NYSE LQ) opened at $18.12 on Thursday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.40 and a quick ratio of 1.40. La Quinta has a 1-year low of $12.87 and a 1-year high of $21.06. The stock has a market cap of $2,147.36, a PE ratio of 14.05, a P/E/G ratio of 8.61 and a beta of 1.80.
Hedge funds have recently made changes to their positions in the business. Davidson Kempner Capital Management LP purchased a new position in La Quinta during the third quarter worth about $13,125,000. Iridian Asset Management LLC CT boosted its stake in La Quinta by 1,523.0% during the third quarter. Iridian Asset Management LLC CT now owns 4,134,055 shares of the company’s stock worth $72,346,000 after buying an additional 3,879,335 shares during the period. Dimensional Fund Advisors LP boosted its stake in La Quinta by 12.4% during the third quarter. Dimensional Fund Advisors LP now owns 4,000,431 shares of the company’s stock worth $70,008,000 after buying an additional 441,290 shares during the period. New York State Common Retirement Fund boosted its stake in La Quinta by 95.8% during the third quarter. New York State Common Retirement Fund now owns 308,053 shares of the company’s stock worth $5,391,000 after buying an additional 150,696 shares during the period. Finally, Gator Capital Management LLC purchased a new position in La Quinta during the fourth quarter worth about $417,000. 96.95% of the stock is owned by institutional investors.
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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.
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