La Quinta Holdings Sees Unusually-High Trading Volume After Better-Than-Expected Earnings (LQ)
La Quinta Holdings (NYSE:LQ) saw strong trading volume on Wednesday following a stronger than expected earnings report, Analyst Ratings.Net reports. 540,246 shares changed hands during mid-day trading, an increase of 31% from the previous session’s volume of 411,271 shares.The stock last traded at $19.58 and had previously closed at $19.39.
The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $260.00 million for the quarter, compared to the consensus estimate of $257.88 million.
A number of analysts have recently weighed in on LQ shares. Analysts at Credit Suisse reiterated an “outperform” rating on shares of La Quinta Holdings in a research note on Wednesday. They now have a $22.00 price target on the stock, up previously from $20.00. Separately, analysts at JMP Securities raised their price target on shares of La Quinta Holdings from $21.00 to $23.00 in a research note on Wednesday. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of La Quinta Holdings in a research note on Wednesday. They now have a $21.00 price target on the stock, up previously from $20.00. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.86.
The stock’s 50-day moving average is $18.91 and its 200-day moving average is $18.05. The company has a market cap of $2.573 billion and a price-to-earnings ratio of 395.71.
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale segments under the La Quinta brand.
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.