Zacks Investment Research upgraded shares of Hyatt Hotels (NYSE:H) from a hold rating to a buy rating in a research report report published on Wednesday morning. The firm currently has $87.00 target price on the stock.
According to Zacks, “Shares of Hyatt have outperformed the industry in the past year, owing to better-than-expected earnings in the trailing 10 quarters. The company’s continuous efforts towards expansion, strong brand recognition and acquisition strategies are likely to drive performance in the long run. The company aims to continue gaining market share globally on a solid brand portfolio and innovative personalized service for the guests. Hyatt’s remodeled loyalty program and innovative offerings are expected to boost occupancy. Moreover, an increased focus on expanding presence in the fast-growing select-service category bodes well. Also, earnings estimate for the current year has been revised upward over the past 60 days, reflecting investor’s optimism on the company’s future earnings. However, intense competition is likely to hurt revenues. Also, Hyatt’s weakness in the owned and leased segment is a concern.”
Other equities research analysts have also issued reports about the company. Berenberg Bank lowered Hyatt Hotels from a buy rating to a hold rating and upped their price target for the stock from $83.00 to $87.50 in a research note on Thursday, July 19th. Stifel Nicolaus upped their price target on Hyatt Hotels from $80.00 to $82.00 and gave the stock a hold rating in a research note on Tuesday, May 8th. Jefferies Financial Group began coverage on Hyatt Hotels in a research note on Thursday, May 31st. They set a hold rating and a $85.00 price target for the company. Finally, Citigroup upped their price target on Hyatt Hotels from $82.00 to $95.00 and gave the stock a buy rating in a research note on Thursday, June 14th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $85.54.
Hyatt Hotels stock opened at $76.13 on Wednesday. The firm has a market capitalization of $8.43 billion, a P/E ratio of 49.14, a price-to-earnings-growth ratio of 4.78 and a beta of 1.23. Hyatt Hotels has a 52 week low of $59.00 and a 52 week high of $84.89. The company has a quick ratio of 1.87, a current ratio of 1.89 and a debt-to-equity ratio of 0.39.
Hyatt Hotels (NYSE:H) last released its earnings results on Tuesday, July 31st. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.24. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Hyatt Hotels had a return on equity of 4.91% and a net margin of 12.76%. research analysts predict that Hyatt Hotels will post 1.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, September 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 5th. This represents a $0.60 annualized dividend and a yield of 0.79%. Hyatt Hotels’s dividend payout ratio is presently 33.71%.
In other news, insider Margaret C. Egan sold 4,300 shares of the company’s stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $83.04, for a total value of $357,072.00. Following the completion of the sale, the insider now owns 16 shares of the company’s stock, valued at $1,328.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider H Co Lp Lci sold 110,480 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $78.76, for a total value of $8,701,404.80. The disclosure for this sale can be found here. Corporate insiders own 18.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bamco Inc. NY boosted its holdings in Hyatt Hotels by 6.0% in the first quarter. Bamco Inc. NY now owns 4,722,351 shares of the company’s stock valued at $360,126,000 after purchasing an additional 265,354 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Hyatt Hotels by 7.5% in the first quarter. Point72 Asset Management L.P. now owns 2,201,839 shares of the company’s stock valued at $167,912,000 after purchasing an additional 153,013 shares during the last quarter. Scopus Asset Management L.P. boosted its holdings in Hyatt Hotels by 63.1% in the first quarter. Scopus Asset Management L.P. now owns 2,038,728 shares of the company’s stock valued at $155,473,000 after purchasing an additional 788,728 shares during the last quarter. BlackRock Inc. boosted its holdings in Hyatt Hotels by 8.5% in the first quarter. BlackRock Inc. now owns 1,991,426 shares of the company’s stock valued at $151,865,000 after purchasing an additional 155,595 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Hyatt Hotels by 3.8% in the second quarter. Millennium Management LLC now owns 1,774,271 shares of the company’s stock valued at $136,885,000 after purchasing an additional 65,138 shares during the last quarter. 37.19% of the stock is owned by institutional investors.
About Hyatt Hotels
Hyatt Hotels Corporation, a hospitality company, develops, owns, operates, manages, franchises, licenses, or provides services to hotels, resorts, residential, and other properties. It operates in four segments: Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, and EAME/SW Asia Management and Franchising.
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