Zacks Investment Research Upgrades Peak Resorts, Inc. (SKIS) to Hold
Peak Resorts, Inc. (NASDAQ:SKIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Peak Resorts, Inc. is an owner and operator of ski resorts in the U.S. The resorts under the company’s umbrella offer a breadth of activities, services and amenities, including skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction and mountain biking and other summer activities. Its ski properties are located throughout the Midwest, Northeast and Southeast United States. Peak Resorts, Inc. is headquartered in Wildwood, Missouri. “
A number of other equities research analysts have also issued reports on SKIS. Macquarie lowered Peak Resorts from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $5.00 in a research note on Wednesday, July 19th. FBR & Co reiterated a “buy” rating and issued a $6.00 price target on shares of Peak Resorts in a research note on Thursday, September 7th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $7.00 price target on shares of Peak Resorts in a research note on Thursday, September 7th. Stifel Nicolaus reiterated a “buy” rating on shares of Peak Resorts in a research note on Thursday, September 7th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $6.00 price target on shares of Peak Resorts in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $6.17.
Shares of Peak Resorts (NASDAQ SKIS) opened at 5.00 on Tuesday. The company’s market cap is $69.91 million. Peak Resorts has a 1-year low of $3.90 and a 1-year high of $6.20. The company’s 50-day moving average price is $4.56 and its 200 day moving average price is $4.84.
Peak Resorts (NASDAQ:SKIS) last issued its quarterly earnings results on Wednesday, September 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.07). Peak Resorts had a negative return on equity of 0.38% and a negative net margin of 0.20%. The business had revenue of $7.50 million during the quarter, compared to analysts’ expectations of $7.22 million. During the same quarter in the previous year, the company posted ($0.56) EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Peak Resorts will post $0.07 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC boosted its holdings in shares of Peak Resorts by 23.9% during the 2nd quarter. Essex Investment Management Co. LLC now owns 30,098 shares of the company’s stock valued at $123,000 after purchasing an additional 5,808 shares during the last quarter. Spark Investment Management LLC bought a new position in shares of Peak Resorts during the 2nd quarter valued at about $251,000. Pinnacle Associates Ltd. boosted its holdings in shares of Peak Resorts by 29.5% during the 2nd quarter. Pinnacle Associates Ltd. now owns 100,688 shares of the company’s stock valued at $413,000 after purchasing an additional 22,960 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Peak Resorts by 56.5% during the 1st quarter. Renaissance Technologies LLC now owns 129,601 shares of the company’s stock valued at $732,000 after purchasing an additional 46,801 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Peak Resorts by 5.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 196,417 shares of the company’s stock valued at $805,000 after purchasing an additional 9,704 shares during the last quarter. 47.55% of the stock is owned by institutional investors and hedge funds.
About Peak Resorts
Peak Resorts, Inc is a holding company. The Company, through its subsidiaries, owns or leases, and operates day ski and overnight drive ski resorts. The Company’s ski resort operations consist of snow skiing, snowboarding and snow sports areas in Wildwood and Weston, Missouri; Bellefontaine and Cleveland, Ohio; Paoli, Indiana; Blakeslee and Lake Harmony, Pennsylvania; Bartlett, Bennington and Pinkham Notch, New Hampshire; West Dover, Vermont, and Hunter, New York, and an 18 hole golf course in West Dover, Vermont.
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