Zacks Investment Research Downgrades Extended Stay America, Inc. (STAY) to Hold
Extended Stay America, Inc. (NYSE:STAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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. “
STAY has been the subject of several other reports. Robert W. Baird reiterated a “buy” rating and set a $21.00 price objective on shares of Extended Stay America in a research report on Thursday, October 12th. BidaskClub downgraded Extended Stay America from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.20.
Shares of Extended Stay America (NYSE STAY) opened at 19.82 on Wednesday. The firm has a market capitalization of $3.81 billion, a PE ratio of 25.44 and a beta of 1.06. Extended Stay America has a 12-month low of $13.59 and a 12-month high of $20.95. The stock has a 50 day moving average price of $20.15 and a 200 day moving average price of $19.08.
Extended Stay America (NYSE:STAY) last posted its earnings results on Tuesday, August 1st. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). The company had revenue of $338.36 million for the quarter, compared to the consensus estimate of $342.70 million. Extended Stay America had a net margin of 5.24% and a return on equity of 14.53%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Analysts predict that Extended Stay America will post $1.02 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its position in shares of Extended Stay America by 122.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock worth $101,000 after buying an additional 2,867 shares during the period. Cable Hill Partners LLC acquired a new stake in Extended Stay America in the third quarter worth approximately $104,000. The Manufacturers Life Insurance Company lifted its position in Extended Stay America by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after purchasing an additional 367 shares during the period. Envestnet Asset Management Inc. lifted its position in Extended Stay America by 50.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,898 shares of the company’s stock worth $126,000 after purchasing an additional 2,658 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Extended Stay America in the second quarter worth approximately $148,000. Institutional investors and hedge funds own 99.88% of the company’s stock.
Extended Stay America Company Profile
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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