Deutsche Bank Reaffirms Hold Rating for Marriott International (MAR)
Marriott International (NASDAQ:MAR)‘s stock had its “hold” rating reissued by equities research analysts at Deutsche Bank in a research note issued to investors on Wednesday. They currently have a $124.00 target price on the stock. Deutsche Bank’s price target points to a potential downside of 2.59% from the stock’s previous close.
A number of other equities research analysts have also commented on the company. Berenberg Bank reissued a “buy” rating and issued a $125.00 price target on shares of Marriott International in a research report on Friday, August 18th. BidaskClub lowered Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 14th. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Thursday, October 26th. Royal Bank Of Canada reissued a “buy” rating on shares of Marriott International in a research report on Tuesday, November 7th. Finally, Barclays increased their price target on Marriott International from $105.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $110.86.
Shares of Marriott International (NASDAQ MAR) traded down $0.23 during trading hours on Wednesday, hitting $127.30. The stock had a trading volume of 1,698,300 shares, compared to its average volume of 2,465,687. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.52. Marriott International has a one year low of $81.04 and a one year high of $129.56. The firm has a market capitalization of $46,495.05, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 3.19 and a beta of 1.35.
Marriott International declared that its board has authorized a stock repurchase program on Thursday, November 9th that permits the company to buyback 30,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In related news, Director Bruce W. Duncan sold 2,580 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $129.03, for a total transaction of $332,897.40. Following the sale, the director now owns 41,816 shares of the company’s stock, valued at approximately $5,395,518.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Argiris Kyriakidis sold 2,500 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $121.55, for a total value of $303,875.00. Following the sale, the insider now directly owns 13,579 shares in the company, valued at approximately $1,650,527.45. The disclosure for this sale can be found here. Insiders have sold a total of 188,067 shares of company stock valued at $22,337,926 in the last quarter. 11.32% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC raised its holdings in shares of Marriott International by 1,490.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after acquiring an additional 1,058 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Marriott International by 214.8% in the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock valued at $136,000 after acquiring an additional 840 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Marriott International in the 3rd quarter valued at about $136,000. Carroll Financial Associates Inc. raised its holdings in shares of Marriott International by 175.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after acquiring an additional 843 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Marriott International by 66.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,481 shares of the company’s stock valued at $163,000 after acquiring an additional 590 shares in the last quarter. 66.83% of the stock is currently owned by institutional investors and hedge funds.
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About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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