Barclays PLC Reiterates “Overweight” Rating for Extended Stay America Inc. (STAY)
Extended Stay America Inc. (NYSE:STAY)‘s stock had its “overweight” rating reissued by investment analysts at Barclays PLC in a note issued to investors on Friday. They currently have a $19.00 price objective on the stock. Barclays PLC’s price target would suggest a potential upside of 34.18% from the company’s current price.
Several other analysts also recently weighed in on STAY. Deutsche Bank AG restated a “buy” rating on shares of Extended Stay America in a research note on Sunday, June 26th. Goldman Sachs Group Inc. assumed coverage on Extended Stay America in a research note on Monday, September 26th. They set a “neutral” rating and a $14.00 target price for the company. Bank of America Corp. restated a “neutral” rating on shares of Extended Stay America in a research note on Monday, July 18th. Citigroup Inc. decreased their target price on Extended Stay America from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, August 17th. Finally, Zacks Investment Research downgraded Extended Stay America from a “hold” rating to a “sell” rating in a research note on Saturday, July 16th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.67.
Extended Stay America (NYSE:STAY) opened at 14.16 on Friday. The company’s 50-day moving average price is $14.34 and its 200-day moving average price is $14.84. Extended Stay America has a 52-week low of $10.56 and a 52-week high of $19.86. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 26.13 and a beta of 0.95.
Extended Stay America (NYSE:STAY) last announced its earnings results on Thursday, July 28th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. Extended Stay America had a return on equity of 12.83% and a net margin of 8.71%. The firm earned $332.80 million during the quarter, compared to the consensus estimate of $337.47 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts predict that Extended Stay America will post $0.92 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Kempen Capital Management N.V. boosted its position in shares of Extended Stay America by 19.5% in the first quarter. Kempen Capital Management N.V. now owns 68,959 shares of the company’s stock worth $1,124,000 after buying an additional 11,270 shares during the last quarter. A.R.T. Advisors LLC raised its stake in Extended Stay America by 20.8% in the first quarter. A.R.T. Advisors LLC now owns 84,824 shares of the company’s stock worth $1,382,000 after buying an additional 14,600 shares during the period. Nordea Investment Management AB acquired a new stake in Extended Stay America during the second quarter worth approximately $1,498,000. Fuller & Thaler Asset Management Inc. raised its stake in Extended Stay America by 722.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 8,310 shares of the company’s stock worth $124,000 after buying an additional 7,300 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Extended Stay America by 78.7% in the first quarter. Goldman Sachs Group Inc. now owns 597,358 shares of the company’s stock worth $9,737,000 after buying an additional 263,114 shares during the period. 99.47% of the stock is owned by institutional investors and hedge funds.
About Extended Stay America
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
Receive News & Stock Ratings for Extended Stay America Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America Inc. and related stocks with our FREE daily email newsletter.