Share on StockTwits

Summit Hotel Properties (NYSE:INN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday. The firm currently has a $10.60 price target on the stock. Zacks‘s target price suggests a potential upside of 2.71% from the stock’s previous close.

Summit Hotel Properties (NYSE:INN) traded down 0.58% during mid-day trading on Friday, hitting $10.26. The stock had a trading volume of 117,570 shares. Summit Hotel Properties has a one year low of $8.50 and a one year high of $10.65. The stock has a 50-day moving average of $9.61 and a 200-day moving average of $9.17. The company’s market cap is $877.8 million.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data 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.

Several other analysts have also recently commented on the stock. Analysts at MLV & Co
raised their price target on shares of Summit Hotel Properties from $1.00 to $12.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, 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. 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $10.87.

Summit Hotel Properties, Inc (NYSE:INN), is a real estate investment trust (REIT).

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.