Insider Selling: Choice Hotels International CEO Sells 25,939 Shares of Stock (CHH)
Choice Hotels International (NYSE:CHH) CEO Stephen P. Joyce sold 25,939 shares of Choice Hotels International stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $50.01, for a total value of $1,297,209.39. Following the completion of the sale, the chief executive officer now directly owns 125,763 shares in the company, valued at approximately $6,289,408. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Barclays reiterated an “equal weight” rating on shares of Choice Hotels International in a research note on Monday. They now have a $49.00 price target on the stock, up previously from $47.00. Separately, analysts at Wells Fargo & Co. upgraded shares of Choice Hotels International from an “underperform” rating to a “market perform” rating in a research note on Tuesday, August 12th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Choice Hotels International from $36.00 to $39.00 in a research note on Friday, August 8th. They now have an “underweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $44.44.
Shares of Choice Hotels International (NYSE:CHH) opened at 51.34 on Wednesday. Choice Hotels International has a 52 week low of $37.94 and a 52 week high of $51.46. The stock has a 50-day moving average of $48.61 and a 200-day moving average of $46.76. The company has a market cap of $2.973 billion and a price-to-earnings ratio of 25.14.
Choice Hotels International (NYSE:CHH) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.49 by $0.11. The company had revenue of $197.66 million for the quarter, compared to the consensus estimate of $193.28 million. During the same quarter last year, the company posted $0.48 earnings per share. Choice Hotels International’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Choice Hotels International will post $1.95 earnings per share for the current fiscal year.
Choice Hotels International, Inc(NYSE:CHH) is one of the hotel franchisors with 6,243 hotels open and 482 hotels under construction, awaiting conversion or approved for development as of December 31, 2012 representing 499,253 rooms open and 38,969 rooms under construction, awaiting conversion or approved for development in 49 states, the District of Columbia and over 35 countries and territories outside the United States.
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