Morgan Stanley Reiterates “Equal Weight” Rating for Choice Hotels International Inc. (CHH)
Choice Hotels International Inc. (NYSE:CHH)‘s stock had its “equal weight” rating reissued by research analysts at Morgan Stanley in a report issued on Tuesday. They currently have a $47.00 price objective on the stock, down from their previous price objective of $48.00. Morgan Stanley’s price target suggests a potential downside of 6.80% from the company’s previous close.
Several other analysts have also issued reports on CHH. Bank of America Corp. restated a “buy” rating on shares of Choice Hotels International in a research report on Monday, July 18th. Zacks Investment Research upgraded shares of Choice Hotels International from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.13.
Choice Hotels International (NYSE:CHH) opened at 50.43 on Tuesday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 20.91 and a beta of 0.97. Choice Hotels International has a 12-month low of $40.78 and a 12-month high of $54.32. The company’s 50 day moving average is $46.46 and its 200 day moving average is $47.24.
Choice Hotels International (NYSE:CHH) last announced its earnings results on Thursday, October 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.05. The company earned $267.60 million during the quarter, compared to analyst estimates of $252.77 million. Choice Hotels International had a net margin of 14.58% and a negative return on equity of 36.59%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. Analysts forecast that Choice Hotels International will post $2.43 earnings per share for the current fiscal year.
In other news, CEO Stephen P. Joyce sold 21,401 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $50.18, for a total value of $1,073,902.18. Following the transaction, the chief executive officer now owns 180,150 shares of the company’s stock, valued at $9,039,927. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick Cimerola sold 13,515 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $48.21, for a total transaction of $651,558.15. Following the completion of the transaction, the insider now directly owns 50,882 shares in the company, valued at approximately $2,453,021.22. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Echo Street Capital Management LLC increased its position in Choice Hotels International by 51.8% in the third quarter. Echo Street Capital Management LLC now owns 1,325,207 shares of the company’s stock valued at $59,740,000 after buying an additional 452,141 shares during the period. Morgan Stanley increased its stake in Choice Hotels International by 361.6% in the third quarter. Morgan Stanley now owns 406,107 shares of the company’s stock worth $18,308,000 after buying an additional 318,127 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Choice Hotels International by 33.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,134,178 shares of the company’s stock worth $51,129,000 after buying an additional 282,948 shares during the last quarter. BTIM Corp. increased its stake in Choice Hotels International by 61.8% in the second quarter. BTIM Corp. now owns 681,326 shares of the company’s stock worth $32,445,000 after buying an additional 260,282 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in Choice Hotels International by 124.6% in the second quarter. Citadel Advisors LLC now owns 457,760 shares of the company’s stock worth $21,799,000 after buying an additional 253,948 shares during the last quarter. 50.50% of the stock is currently owned by hedge funds and other institutional investors.
About Choice Hotels International
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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