Playa Hotels & Resorts (PLYA) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $12.00 price objective on the stock.

According to Zacks, “Playa Hotels & Resorts N.V. is an owner, operator and developer of resorts primarily in Mexico and the Caribbean. The company owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara and Hyatt Ziva Rose Hall Jamaica, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. Playa Hotels & Resorts N.V. is based in Faifax, United States. “

Separately, BidaskClub raised shares of Playa Hotels & Resorts from a sell rating to a hold rating in a report on Monday, June 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $14.19.

Playa Hotels & Resorts opened at $10.80 on Tuesday, according to Marketbeat Ratings. Playa Hotels & Resorts has a 52 week low of $9.41 and a 52 week high of $12.27. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 28.42 and a beta of -0.02. The company has a quick ratio of 1.57, a current ratio of 1.65 and a debt-to-equity ratio of 1.44.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its quarterly earnings data on Monday, May 7th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. Playa Hotels & Resorts had a negative net margin of 1.08% and a positive return on equity of 6.46%. The business had revenue of $176.85 million during the quarter, compared to the consensus estimate of $172.88 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue was up 1.6% on a year-over-year basis. sell-side analysts forecast that Playa Hotels & Resorts will post 0.36 EPS for the current fiscal year.

In other news, CFO Ryan Paul Hymel sold 2,922 shares of the company’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $10.50, for a total transaction of $30,681.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Alexander Stadlin sold 4,924 shares of the company’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $10.51, for a total transaction of $51,751.24. The disclosure for this sale can be found here. Insiders have sold a total of 10,483 shares of company stock worth $110,147 over the last 90 days. Corporate insiders own 2.74% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PLYA. Schwab Charles Investment Management Inc. raised its position in shares of Playa Hotels & Resorts by 10.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 146,470 shares of the company’s stock valued at $1,581,000 after buying an additional 14,230 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Playa Hotels & Resorts during the 4th quarter valued at about $225,000. Swiss National Bank purchased a new stake in shares of Playa Hotels & Resorts during the 4th quarter valued at about $1,115,000. First Trust Advisors LP purchased a new stake in shares of Playa Hotels & Resorts during the 4th quarter valued at about $828,000. Finally, Wells Fargo & Company MN raised its position in shares of Playa Hotels & Resorts by 41.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,686,100 shares of the company’s stock valued at $28,983,000 after buying an additional 793,159 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V. owns, operates, develops, and manages all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company owns, operates, and manages resorts under the Hyatt Ziva, Panama Jack, Dreams, Sanctuary, Hyatt Zilara, THE Royal, and Secrets brand names.

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