Starwood Hotels & Resorts Worldwide Price Target Raised to $78.00 at JPMorgan Chase & Co. (HOT)
JPMorgan Chase & Co. boosted their price objective on shares of Starwood Hotels & Resorts Worldwide (NYSE:HOT) from $72.00 to $78.00 in a research note issued on Friday, American Banking and Market News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 16.44% from the stock’s previous close.
HOT has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Starwood Hotels & Resorts Worldwide (NYSE:HOT) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $71.00 price target on the stock. Finally, analysts at JMP Securities raised their price target on shares of Starwood Hotels & Resorts Worldwide (NYSE:HOT) from $73.00 to $75.00 in a research note to investors on Friday, July 26th. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.23.
Starwood Hotels & Resorts Worldwide (NYSE:HOT) traded up 0.75% during mid-day trading on Friday, hitting $66.99. 2,274,632 shares of the company’s stock traded hands. Starwood Hotels & Resorts Worldwide has a 52 week low of $50.22 and a 52 week high of $70.16. The stock has a 50-day moving average of $66.20 and a 200-day moving average of $65.21. The company has a market cap of $13.059 billion and a P/E ratio of 19.63.
Starwood Hotels & Resorts Worldwide (NYSE:HOT) last released its earnings data on Thursday, July 25th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts predict that Starwood Hotels & Resorts Worldwide will post $2.87 earnings per share for the current fiscal year.
In other Starwood Hotels & Resorts Worldwide news, EVP Philip Patrick Mcaveety sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $69.00, for a total transaction of $690,000.00. Following the completion of the sale, the executive vice president now directly owns 31,882 shares of the company’s stock, valued at approximately $2,199,858. The transaction was disclosed in a filing with the SEC, which is available at this link.
Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT) is a hotel and leisure company.
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