La Quinta (NYSE:LQ) was upgraded by Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports.
LQ has been the subject of several other reports. Zacks Investment Research lowered shares of La Quinta from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. UBS Group upgraded shares of La Quinta from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. TheStreet lowered shares of La Quinta from a “b” rating to a “c+” rating in a report on Thursday, November 2nd. Wells Fargo & Co upgraded shares of La Quinta from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, October 6th. Finally, Morgan Stanley upgraded shares of La Quinta from an “equal weight” rating to an “overweight” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $18.85.
La Quinta (LQ) traded up $0.01 during trading hours on Friday, reaching $20.18. 3,050,000 shares of the company were exchanged, compared to its average volume of 1,400,000. La Quinta has a 52 week low of $11.76 and a 52 week high of $21.06. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.38. The company has a market cap of $2,370.00, a price-to-earnings ratio of 77.62, a P/E/G ratio of 9.10 and a beta of 1.85.
La Quinta (NYSE:LQ) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). La Quinta had a net margin of 3.11% and a return on equity of 6.23%. The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $272.52 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. research analysts predict that La Quinta will post 0.33 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of La Quinta by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 6,658,222 shares of the company’s stock worth $98,342,000 after buying an additional 131,315 shares during the period. Iridian Asset Management LLC CT grew its position in shares of La Quinta by 1,523.0% in the 3rd quarter. Iridian Asset Management LLC CT now owns 4,134,055 shares of the company’s stock worth $72,346,000 after buying an additional 3,879,335 shares during the period. Dimensional Fund Advisors LP grew its position in shares of La Quinta by 12.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,000,431 shares of the company’s stock worth $70,008,000 after buying an additional 441,290 shares during the period. State Street Corp grew its position in shares of La Quinta by 2.4% in the 2nd quarter. State Street Corp now owns 1,728,787 shares of the company’s stock worth $25,533,000 after buying an additional 40,093 shares during the period. Finally, Davidson Kempner Capital Management LP purchased a new stake in shares of La Quinta in the 3rd quarter worth about $13,125,000. Institutional investors and hedge funds own 97.19% of the company’s stock.
La Quinta Company Profile
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.