Cowen and Company Increases LaSalle Hotel Properties Price Target to $38.50 (LHO)
Cowen and Company lifted their target price on shares of LaSalle Hotel Properties (NYSE:LHO) from $2.00 to $38.50 in a research note issued on Monday. Cowen and Company’s price target would suggest a potential upside of 6.89% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of LaSalle Hotel Properties in a research note on Friday. They now have a $39.00 price target on the stock, up previously from $37.00. Separately, analysts at Robert W. Baird raised their price target on shares of LaSalle Hotel Properties from $34.00 to $37.00 in a research note on Wednesday, July 23rd. Finally, analysts at ISI Group initiated coverage on shares of LaSalle Hotel Properties in a research note on Wednesday, July 23rd. They set a “buy” rating and a $38.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. LaSalle Hotel Properties currently has a consensus rating of “Hold” and a consensus price target of $35.42.
Shares of LaSalle Hotel Properties (NYSE:LHO) traded up 0.47% on Monday, hitting $36.19. 152,584 shares of the company’s stock traded hands. LaSalle Hotel Properties has a 1-year low of $25.92 and a 1-year high of $36.91. The stock’s 50-day moving average is $35.4 and its 200-day moving average is $32.69. The company has a market cap of $3.766 billion and a P/E ratio of 30.66. LaSalle Hotel Properties also was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 4,713,880 shares, an increase of 47.5% from the June 13th total of 3,194,849 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average daily volume of 2,155,358 shares, the days-to-cover ratio is presently 2.2 days.
LaSalle Hotel Properties (NYSE:LHO) last announced its earnings results on Wednesday, July 23rd. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.01. The company had revenue of $313.10 million for the quarter, compared to the consensus estimate of $305.60 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts predict that LaSalle Hotel Properties will post $2.51 earnings per share for the current fiscal year.
Lasalle Hotel Properties is a self-managed and self-administered real estate investment trust (NYSE:LHO).
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