Summit Hotel Properties Hits New 52-Week High at $10.66 (INN)
Summit Hotel Properties (NYSE:INN)’s share price reached a new 52-week high during trading on Thursday , Analyst Ratings Network.com reports. The stock traded as high as $10.66 and last traded at $10.56, with a volume of 218,049 shares changing hands. The stock had previously closed at $10.49.
A number of analysts have recently weighed in on INN shares. Analysts at Zacks upgraded shares of Summit Hotel Properties from an “underperform” rating to a “neutral” rating in a research note on Friday, June 13th. They now have a $10.60 price target on the stock. Separately, 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, June 12th. They now have a “buy” rating on the stock. Finally, 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Summit Hotel Properties presently has a consensus rating of “Buy” and an average target price of $10.87.
The stock’s 50-day moving average is $9.76 and its 200-day moving average is $9.2. The company’s market cap is $902.6 million.
Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ 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. Summit Hotel Properties’s revenue was up 49.9% compared to the same quarter last year. Analysts expect that Summit Hotel Properties will post $0.88 EPS for the current fiscal year.
Summit Hotel Properties, Inc (NYSE:INN), is a real estate investment trust (REIT).
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.