Ashford Inc (AINC) Downgraded by Zacks Investment Research to Hold
Ashford Inc (NYSEMKT:AINC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “
Separately, FBR & Co increased their price target on Ashford from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th.
Shares of Ashford (NYSEMKT:AINC) traded up 1.4772% during trading on Tuesday, hitting $66.0008. The company had a trading volume of 418 shares. Ashford has a 12-month low of $38.11 and a 12-month high of $68.00. The stock’s market cap is $133.39 million. The firm has a 50 day moving average of $59.91 and a 200 day moving average of $54.78.
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A hedge fund recently bought a new stake in Ashford stock. Clear Harbor Asset Management LLC acquired a new stake in Ashford Inc (NYSEMKT:AINC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,212 shares of the financial services provider’s stock, valued at approximately $452,000. Clear Harbor Asset Management LLC owned approximately 0.46% of Ashford at the end of the most recent reporting period.
Ashford Inc provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc (Ashford Prime) and its subsidiaries.
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