Peak Resorts, Inc. (SKIS) Downgraded to “Sell” at Zacks Investment Research
Peak Resorts, Inc. (NASDAQ:SKIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Peak Resorts, Inc. is an owner and operator of ski resorts in the U.S. The resorts under the company’s umbrella offer a breadth of activities, services and amenities, including skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction and mountain biking and other summer activities. Its ski properties are located throughout the Midwest, Northeast and Southeast United States. Peak Resorts, Inc. is headquartered in Wildwood, Missouri. “
SKIS has been the subject of a number of other reports. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $7.00 price target on shares of Peak Resorts in a research note on Thursday, September 7th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Peak Resorts in a research note on Thursday, September 7th. FBR & Co reaffirmed a “buy” rating and issued a $6.00 price target on shares of Peak Resorts in a research note on Thursday, September 7th. Macquarie cut Peak Resorts from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $5.00 in a research note on Wednesday, July 19th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $6.00 price target on shares of Peak Resorts in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Peak Resorts has an average rating of “Hold” and an average price target of $6.17.
Peak Resorts (NASDAQ SKIS) opened at 4.70 on Wednesday. The firm has a 50 day moving average of $4.55 and a 200 day moving average of $4.88. Peak Resorts has a one year low of $3.90 and a one year high of $6.20. The firm’s market capitalization is $65.72 million.
Peak Resorts (NASDAQ:SKIS) last announced its quarterly earnings results on Wednesday, September 6th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). The company had revenue of $7.50 million during the quarter, compared to the consensus estimate of $7.22 million. Peak Resorts had a negative net margin of 0.20% and a negative return on equity of 0.38%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned ($0.56) earnings per share. Equities analysts forecast that Peak Resorts will post $0.07 EPS for the current year.
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In other Peak Resorts news, major shareholder Cap 1 Llc bought 17,180 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $5.58 per share, with a total value of $95,864.40. Following the purchase, the insider now owns 1,742,705 shares in the company, valued at $9,724,293.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have purchased 233,953 shares of company stock valued at $1,293,841. 16.52% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rutabaga Capital Management LLC MA increased its stake in Peak Resorts by 51.1% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 1,251,976 shares of the company’s stock worth $5,133,000 after purchasing an additional 423,609 shares in the last quarter. Vanguard Group Inc. increased its stake in Peak Resorts by 63.0% during the 2nd quarter. Vanguard Group Inc. now owns 419,553 shares of the company’s stock worth $1,720,000 after purchasing an additional 162,100 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Peak Resorts by 29.5% during the 2nd quarter. Pinnacle Associates Ltd. now owns 100,688 shares of the company’s stock worth $413,000 after purchasing an additional 22,960 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in Peak Resorts by 23.9% during the 2nd quarter. Essex Investment Management Co. LLC now owns 30,098 shares of the company’s stock worth $123,000 after purchasing an additional 5,808 shares in the last quarter. Finally, Spark Investment Management LLC bought a new stake in Peak Resorts during the 2nd quarter worth approximately $251,000. 47.55% of the stock is owned by institutional investors and hedge funds.
About Peak Resorts
Peak Resorts, Inc is a holding company. The Company, through its subsidiaries, owns or leases, and operates day ski and overnight drive ski resorts. The Company’s ski resort operations consist of snow skiing, snowboarding and snow sports areas in Wildwood and Weston, Missouri; Bellefontaine and Cleveland, Ohio; Paoli, Indiana; Blakeslee and Lake Harmony, Pennsylvania; Bartlett, Bennington and Pinkham Notch, New Hampshire; West Dover, Vermont, and Hunter, New York, and an 18 hole golf course in West Dover, Vermont.
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