Investment analysts at Jefferies Financial Group assumed coverage on shares of Extended Stay America (NYSE:STAY) in a research report issued on Thursday, May 31st, Marketbeat reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 20.59% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Morgan Stanley raised Extended Stay America from an “equal” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research note on Thursday, May 31st. ValuEngine downgraded Extended Stay America from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Barclays reissued an “overweight” rating and issued a $22.00 price objective (up from $21.00) on shares of Extended Stay America in a research note on Wednesday, February 28th. Zacks Investment Research raised Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, February 21st. Finally, Robert W. Baird reissued a “buy” rating and issued a $22.00 price objective on shares of Extended Stay America in a research note on Thursday, April 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $22.15.
STAY opened at $21.56 on Thursday. Extended Stay America has a fifty-two week low of $16.27 and a fifty-two week high of $22.33. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market cap of $4.06 billion, a PE ratio of 21.56, a PEG ratio of 2.47 and a beta of 0.96.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Thursday, April 26th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. Extended Stay America had a return on equity of 15.18% and a net margin of 5.47%. The company had revenue of $298.00 million during the quarter, compared to the consensus estimate of $292.38 million. During the same period last year, the business earned $0.35 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. research analysts forecast that Extended Stay America will post 1.15 EPS for the current fiscal year.
Extended Stay America announced that its board has initiated a share buyback plan on Tuesday, February 27th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MANA Advisors LLC acquired a new stake in Extended Stay America in the 4th quarter valued at approximately $197,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Extended Stay America by 46.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,479 shares of the company’s stock valued at $199,000 after buying an additional 3,340 shares during the last quarter. Hilltop Holdings Inc. acquired a new stake in Extended Stay America in the 1st quarter valued at approximately $201,000. QS Investors LLC grew its holdings in Extended Stay America by 2,896.9% in the 4th quarter. QS Investors LLC now owns 10,699 shares of the company’s stock valued at $203,000 after buying an additional 10,342 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Extended Stay America in the 4th quarter valued at approximately $269,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.
About Extended Stay America
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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