Choice Hotels International (CHH) Cut to “Underweight” at J P Morgan Chase & Co
Choice Hotels International (NYSE:CHH) was downgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report released on Wednesday, Marketbeat reports. They presently have a $72.00 target price on the stock. J P Morgan Chase & Co’s target price indicates a potential downside of 5.14% from the company’s previous close.
CHH has been the subject of a number of other reports. TheStreet upgraded Choice Hotels International from a “c+” rating to a “b” rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded Choice Hotels International from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Tuesday, October 17th. Barclays lifted their target price on Choice Hotels International from $60.00 to $67.00 and gave the company an “underweight” rating in a research note on Tuesday, November 7th. SunTrust Banks reiterated a “hold” rating and set a $71.00 price objective on shares of Choice Hotels International in a research report on Friday, November 10th. Finally, BidaskClub upgraded Choice Hotels International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Choice Hotels International presently has an average rating of “Hold” and an average price target of $67.38.
Shares of Choice Hotels International (NYSE:CHH) traded down $1.10 during mid-day trading on Wednesday, reaching $75.90. The company’s stock had a trading volume of 295,558 shares, compared to its average volume of 198,805. The company has a debt-to-equity ratio of -3.99, a quick ratio of 1.67 and a current ratio of 1.67. Choice Hotels International has a 12 month low of $53.40 and a 12 month high of $79.80. The firm has a market capitalization of $4,360.00, a P/E ratio of 27.58, a P/E/G ratio of 3.19 and a beta of 1.17.
Choice Hotels International (NYSE:CHH) last issued its earnings results on Monday, November 6th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. The company had revenue of $295.09 million during the quarter, compared to analyst estimates of $288.50 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. analysts anticipate that Choice Hotels International will post 2.89 earnings per share for the current fiscal year.
In other news, major shareholder Bruce Bainum sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $74.05, for a total transaction of $18,512,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 22.01% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Utah Retirement Systems boosted its position in shares of Choice Hotels International by 1.7% during the second quarter. Utah Retirement Systems now owns 6,112 shares of the company’s stock worth $393,000 after buying an additional 100 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Choice Hotels International by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,651 shares of the company’s stock worth $106,000 after purchasing an additional 106 shares in the last quarter. Legal & General Group Plc raised its holdings in Choice Hotels International by 1.1% during the second quarter. Legal & General Group Plc now owns 12,168 shares of the company’s stock worth $782,000 after purchasing an additional 136 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Choice Hotels International by 10.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,611 shares of the company’s stock worth $104,000 after purchasing an additional 157 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Choice Hotels International by 0.3% during the second quarter. New York State Common Retirement Fund now owns 194,800 shares of the company’s stock worth $12,516,000 after purchasing an additional 499 shares in the last quarter. Institutional investors and hedge funds own 50.83% of the company’s stock.
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About Choice Hotels International
Choice Hotels International, Inc is a hotel franchisor. The Company’s segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.
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