Zacks Investment Research Downgrades Hyatt Hotels Corp. (H) to Sell
Hyatt Hotels Corp. (NYSE:H) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Hyatt Hotels Corporation is a global hospitality company that manages, franchises, owns and develops Hyatt branded hotels, resorts and residential and vacation ownership properties around the world. Its hotels and resorts offer business centers, car rentals, catering, weddings, fitness centers, hotel shops, lounges, meetings and events, pools, and restaurants. The company is based in Chicago, Illinois. It has hotel locations in North America, Asia, Europe, Latin America, Caribbean, Australia, New Zealand, Africa, and the Middle East. The company’s mission is to provide authentic hospitality by making a difference in the lives of the people they touch every day. “
Several other research analysts have also recently commented on H. Deutsche Bank AG reaffirmed a “hold” rating and set a $47.00 target price on shares of Hyatt Hotels Corp. in a report on Sunday, June 26th. Morgan Stanley set a $49.00 target price on shares of Hyatt Hotels Corp. and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Citigroup Inc. raised their target price on shares of Hyatt Hotels Corp. from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. FBR & Co reaffirmed a “buy” rating and set a $62.00 target price on shares of Hyatt Hotels Corp. in a report on Thursday, August 4th. Finally, Vetr cut shares of Hyatt Hotels Corp. from a “hold” rating to a “sell” rating and set a $47.00 target price on the stock. in a report on Wednesday, July 20th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $53.24.
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Shares of Hyatt Hotels Corp. (NYSE:H) traded down 1.79% during midday trading on Tuesday, hitting $49.33. 449,799 shares of the stock traded hands. The firm’s 50-day moving average is $51.27 and its 200 day moving average is $49.62. Hyatt Hotels Corp. has a 52 week low of $34.06 and a 52 week high of $54.82. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 42.02 and a beta of 1.51.
Hyatt Hotels Corp. (NYSE:H) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.17. Hyatt Hotels Corp. had a net margin of 3.69% and a return on equity of 4.78%. During the same period in the previous year, the company posted $0.28 EPS. Equities analysts forecast that Hyatt Hotels Corp. will post $1.48 earnings per share for the current year.
In related news, insider David Udell sold 7,344 shares of Hyatt Hotels Corp. stock in a transaction on Monday, August 8th. The shares were sold at an average price of $52.26, for a total transaction of $383,797.44. Following the completion of the transaction, the insider now owns 7,582 shares of the company’s stock, valued at $396,235.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 25.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Hyatt Hotels Corp. by 1.1% in the second quarter. Royal Bank of Canada now owns 5,911 shares of the company’s stock worth $290,000 after buying an additional 64 shares in the last quarter. Legal & General Group Plc increased its stake in Hyatt Hotels Corp. by 3.1% in the second quarter. Legal & General Group Plc now owns 3,217 shares of the company’s stock valued at $158,000 after buying an additional 97 shares during the period. Rhumbline Advisers increased its stake in Hyatt Hotels Corp. by 0.5% in the second quarter. Rhumbline Advisers now owns 28,337 shares of the company’s stock valued at $1,392,000 after buying an additional 147 shares during the period. Calvert Investment Management Inc. increased its stake in Hyatt Hotels Corp. by 7.7% in the second quarter. Calvert Investment Management Inc. now owns 8,417 shares of the company’s stock valued at $414,000 after buying an additional 600 shares during the period. Finally, I.G. Investment Management LTD. increased its stake in Hyatt Hotels Corp. by 9.4% in the second quarter. I.G. Investment Management LTD. now owns 8,547 shares of the company’s stock valued at $420,000 after buying an additional 732 shares during the period. 17.67% of the stock is owned by institutional investors and hedge funds.
About Hyatt Hotels Corp.
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties, consisting of full service hotels, select service hotels, resorts and other properties, including timeshare, fractional and other forms of residential and vacation properties.
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