Summit Hotel Properties Price Target Raised to $12.00 at MLV & Co (INN)
Equities researchers at MLV & Co
lifted their price target on shares of Summit Hotel Properties (NYSE:INN) from $1.00 to $12.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the stock. MLV & Co
‘s target price would suggest a potential upside of 16.96% from the company’s current price.
INN has been the subject of a number of other recent research reports. Analysts at RBC Capital upgraded shares of Summit Hotel Properties from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 14th. They now have a $11.00 price target on the stock, up previously from $10.00. Separately, analysts at Zacks downgraded shares of Summit Hotel Properties from a “neutral” rating to an “underperform” rating in a research note on Tuesday, May 13th. They now have a $9.00 price target on the stock. Finally, analysts at Raymond James raised their price target on shares of Summit Hotel Properties from $10.00 to $10.50 in a research note on Tuesday, May 13th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $10.64.
Shares of Summit Hotel Properties (NYSE:INN) traded down 0.10% during mid-day trading on Thursday, hitting $10.25. 160,502 shares of the company’s stock traded hands. Summit Hotel Properties has a 1-year low of $8.50 and a 1-year high of $10.65. The stock’s 50-day moving average is $9.57 and its 200-day moving average is $9.17. The company’s market cap is $876.9 million.
Summit Hotel Properties (NYSE:INN) last announced its earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.20. The company had revenue of $89.50 million for the quarter, compared to the consensus estimate of $87.33 million. The company’s quarterly revenue was up 49.9% on a year-over-year basis. On average, analysts predict that Summit Hotel Properties will post $0.88 earnings per share for the current fiscal year.
Summit Hotel Properties, Inc (NYSE:INN), is a real estate investment trust (REIT).
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