La Quinta Holdings Inc. (LQ) Downgraded by Zacks Investment Research to Sell
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 research firms have also recently weighed in on LQ. Wells Fargo & Co. cut La Quinta Holdings from a market perform rating to an underperform rating in a research report on Tuesday, June 14th. They noted that the move was a valuation call. Deutsche Bank AG set a $17.00 price objective on La Quinta Holdings and gave the stock a buy rating in a research report on Wednesday, August 3rd. Citigroup Inc. decreased their price objective on La Quinta Holdings from $13.00 to $12.00 and set a neutral rating for the company in a research report on Friday, August 5th. Goldman Sachs Group Inc. started coverage on La Quinta Holdings in a research report on Monday, September 26th. They set a sell rating and a $9.00 price objective for the company. Finally, Bank of America Corp. reissued a sell rating on shares of La Quinta Holdings in a report on Monday, July 18th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $14.38.
Shares of La Quinta Holdings (NYSE:LQ) traded down 0.37% during midday trading on Wednesday, reaching $10.91. The company had a trading volume of 42,911 shares. La Quinta Holdings has a 52 week low of $9.42 and a 52 week high of $17.46. The company’s 50 day moving average price is $11.25 and its 200-day moving average price is $11.78. The company has a market capitalization of $1.27 billion, a P/E ratio of 1363.75 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. La Quinta Holdings had a return on equity of 9.49% and a net margin of 0.09%. The company earned $269.60 million during the quarter, compared to analysts’ expectations of $266.78 million. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts predict that La Quinta Holdings will post $0.54 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake 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 valued at $149,000 after buying an additional 1,936 shares during the period. Swiss National Bank boosted its position in shares of La Quinta Holdings by 3.7% in the second quarter. Swiss National Bank now owns 154,700 shares of the company’s stock worth $1,764,000 after buying an additional 5,500 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of La Quinta Holdings by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,229,881 shares of the company’s stock worth $25,421,000 after buying an additional 9,080 shares during the last quarter. EverPoint Asset Management LLC purchased a new position in shares of La Quinta Holdings during the second quarter worth $116,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of La Quinta Holdings during the second quarter worth $124,000. Institutional investors and hedge funds own 98.80% of the company’s stock.
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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