Raymond James Financial Upgrades Hyatt Hotels (H) to “Outperform”
Hyatt Hotels (NYSE:H) was upgraded by Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $82.00 target price on the stock. Raymond James Financial’s price target would indicate a potential upside of 7.46% from the company’s previous close.
Several other research analysts have also weighed in on H. SunTrust Banks reaffirmed a “hold” rating and issued a $61.00 target price on shares of Hyatt Hotels in a research report on Tuesday, October 17th. Robert W. Baird set a $70.00 target price on Hyatt Hotels and gave the stock a “buy” rating in a research report on Sunday, October 29th. Morgan Stanley upped their price target on Hyatt Hotels from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, November 3rd. Wells Fargo & Co upgraded Hyatt Hotels from a “market perform” rating to an “outperform” rating and set a $76.00 price target for the company in a research note on Monday, November 6th. Finally, B. Riley downgraded Hyatt Hotels from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $73.85.
Shares of Hyatt Hotels (H) traded up $1.32 during mid-day trading on Monday, reaching $76.31. The company’s stock had a trading volume of 1,200,700 shares, compared to its average volume of 843,033. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.04 and a current ratio of 1.06. Hyatt Hotels has a 12 month low of $50.21 and a 12 month high of $76.38. The firm has a market cap of $8,920.00, a price-to-earnings ratio of 45.97, a P/E/G ratio of 12.80 and a beta of 1.25.
Hyatt Hotels announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Stephen G. Haggerty sold 7,117 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $61.60, for a total transaction of $438,407.20. Following the completion of the sale, the insider now owns 57,326 shares in the company, valued at approximately $3,531,281.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Elsinore Trust sold 157,476 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $61.48, for a total value of $9,681,624.48. Following the sale, the insider now owns 32,125 shares of the company’s stock, valued at approximately $1,975,045. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 986,001 shares of company stock valued at $67,260,348. 27.51% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. lifted its position in shares of Hyatt Hotels by 121.4% in the 3rd quarter. Fox Run Management L.L.C. now owns 25,900 shares of the company’s stock worth $1,600,000 after acquiring an additional 14,200 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Hyatt Hotels by 14.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 501,089 shares of the company’s stock worth $28,167,000 after acquiring an additional 65,031 shares during the period. Koch Industries Inc. bought a new stake in shares of Hyatt Hotels in the 2nd quarter worth approximately $478,000. Schwab Charles Investment Management Inc. lifted its position in shares of Hyatt Hotels by 8.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 145,543 shares of the company’s stock worth $8,181,000 after acquiring an additional 11,424 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in shares of Hyatt Hotels by 162.3% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 30,510 shares of the company’s stock worth $1,714,000 after acquiring an additional 18,879 shares during the period. Hedge funds and other institutional investors own 38.79% of the company’s stock.
About Hyatt Hotels
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).
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