Extended Stay America, Inc. (NYSE:STAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina. “

Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of Extended Stay America from a “c+” rating to a “b” rating in a research note on Friday, May 5th. Stifel Nicolaus raised their target price on shares of Extended Stay America from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. ValuEngine raised shares of Extended Stay America from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Finally, BidaskClub downgraded shares of Extended Stay America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $19.00.

Extended Stay America (NYSE:STAY) opened at 19.99 on Friday. Extended Stay America has a 1-year low of $13.00 and a 1-year high of $20.18. The firm’s 50-day moving average price is $19.15 and its 200-day moving average price is $17.48. The firm has a market cap of $3.88 billion, a P/E ratio of 24.08 and a beta of 1.06.

Extended Stay America (NYSE:STAY) last announced its earnings results on Thursday, April 27th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Extended Stay America had a net margin of 5.96% and a return on equity of 14.43%. The business had revenue of $291 million during the quarter, compared to the consensus estimate of $290.20 million. During the same quarter last year, the firm earned $0.13 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts anticipate that Extended Stay America will post $1.03 earnings per share for the current fiscal year.

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In related news, major shareholder Paulson & Co. Inc. sold 10,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $17.23, for a total transaction of $176,607,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Extended Stay America during the first quarter valued at $105,000. Asset Management One Co. Ltd. increased its stake in shares of Extended Stay America by 134.4% in the first quarter. Asset Management One Co. Ltd. now owns 7,500 shares of the company’s stock valued at $120,000 after buying an additional 4,300 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Extended Stay America by 50.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,898 shares of the company’s stock valued at $126,000 after buying an additional 2,658 shares during the period. TLP Group LLC purchased a new stake in shares of Extended Stay America during the first quarter valued at $135,000. Finally, Paragon Capital Management Ltd purchased a new stake in shares of Extended Stay America during the first quarter valued at $160,000. 92.27% of the stock is owned by institutional investors.

About Extended Stay America

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

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Analyst Recommendations for Extended Stay America (NYSE:STAY)

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