Choice Hotels International Inc. (CHH) Upgraded by Zacks Investment Research to Buy
Choice Hotels International Inc. (NYSE:CHH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $58.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.32% from the company’s previous close.
According to Zacks, “Choice Hotels Int’l. is one of the largest hotel franchise companies in the world with hotels, inns, all-suite hotels and resorts open and under development in countries across the globe under the brand names Comfort, Quality, Clarion, Sleep Inn, Rodeway Inn, Econo Lodge and MainStay Suites. “
Separately, Morgan Stanley reiterated a “sell” rating and set a $48.00 price objective on shares of Choice Hotels International in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Choice Hotels International has a consensus rating of “Hold” and a consensus target price of $48.50.
Choice Hotels International (NYSE:CHH) traded up 0.10% on Tuesday, hitting $52.10. 214,961 shares of the company traded hands. The firm’s 50 day moving average price is $47.84 and its 200 day moving average price is $47.35. Choice Hotels International has a 1-year low of $40.78 and a 1-year high of $54.32. The firm has a market capitalization of $2.90 billion, a PE ratio of 21.60 and a beta of 0.97.
Choice Hotels International (NYSE:CHH) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The firm earned $267.60 million during the quarter, compared to analysts’ expectations of $252.77 million. Choice Hotels International had a net margin of 14.58% and a negative return on equity of 36.59%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. Equities research analysts predict that Choice Hotels International will post $2.44 EPS for the current fiscal year.
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In other Choice Hotels International news, CEO Stephen P. Joyce sold 21,401 shares of Choice Hotels International stock in a transaction dated 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 sale, the chief executive officer now owns 180,150 shares of the company’s stock, valued at $9,039,927. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen P. Joyce sold 32,000 shares of Choice Hotels International stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $45.09, for a total transaction of $1,442,880.00. Following the completion of the sale, the chief executive officer now directly owns 180,548 shares in the company, valued at approximately $8,140,909.32. The disclosure for this sale can be found here. Corporate insiders own 22.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CHH. State Street Corp raised its stake in shares of Choice Hotels International by 5.0% in the first quarter. State Street Corp now owns 463,597 shares of the company’s stock valued at $25,058,000 after buying an additional 22,023 shares in the last quarter. Fenimore Asset Management Inc. bought a new stake in shares of Choice Hotels International during the second quarter valued at approximately $7,297,000. Jensen Investment Management Inc. bought a new stake in shares of Choice Hotels International during the second quarter valued at approximately $420,000. Capital Fund Management S.A. bought a new stake in shares of Choice Hotels International during the second quarter valued at approximately $1,510,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Choice Hotels International during the second quarter valued at approximately $1,420,000. 48.69% of the stock is currently owned by institutional investors and hedge funds.
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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