Zacks Investment Research Upgrades La Quinta Holdings Inc. (LQ) to “Hold”
La Quinta Holdings Inc. (NYSE:LQ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
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. “
LQ has been the subject of several other research reports. Morgan Stanley set a $11.00 price objective on shares of La Quinta Holdings and gave the company a “hold” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $11.00 price objective on shares of La Quinta Holdings in a research note on Thursday, November 3rd. Goldman Sachs Group Inc. began coverage on shares of La Quinta Holdings in a research note on Monday, September 26th. They issued a “sell” rating and a $9.00 price objective for the company. Citigroup Inc. reduced their price objective on shares of La Quinta Holdings from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 5th. Finally, Off Wall Street reiterated a “buy” rating and issued a $14.20 price objective on shares of La Quinta Holdings in a research note on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.15.
Shares of La Quinta Holdings (NYSE:LQ) opened at 12.26 on Friday. La Quinta Holdings has a 1-year low of $9.42 and a 1-year high of $15.21. The stock has a market cap of $1.43 billion, a PE ratio of 222.91 and a beta of 1.73. The stock has a 50 day moving average of $10.77 and a 200 day moving average of $11.40.
La Quinta Holdings (NYSE:LQ) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. La Quinta Holdings had a net margin of 0.65% and a return on equity of 9.67%. The firm earned $272.30 million during the quarter, compared to analysts’ expectations of $267.50 million. During the same quarter last year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts forecast that La Quinta Holdings will post $0.51 EPS for the current year.
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Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new position in La Quinta Holdings during the third quarter worth $112,000. EverPoint Asset Management LLC purchased a new position in La Quinta Holdings during the second quarter worth $116,000. SG Americas Securities LLC purchased a new position in La Quinta Holdings during the third quarter worth $121,000. Neuberger Berman Group LLC purchased a new position in La Quinta Holdings during the second quarter worth $124,000. Finally, CHICAGO TRUST Co NA purchased a new position in La Quinta Holdings during the second quarter worth $134,000. Institutional investors own 96.74% of the company’s stock.
About La Quinta Holdings
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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