Ashford Inc (AINC) Receives Average Rating of “Hold” from Analysts

Shares of Ashford Inc (NYSEAMERICAN:AINC) have been given an average rating of “Hold” by the six research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $71.00.

Several analysts have weighed in on AINC shares. Zacks Investment Research downgraded shares of Ashford from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. B. Riley downgraded shares of Ashford from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $67.00 to $81.00 in a research report on Tuesday, November 7th.

Ashford (NYSEAMERICAN:AINC) opened at $95.97 on Thursday. The company has a market cap of $192.34, a P/E ratio of -18.97 and a beta of -0.19. Ashford has a 52 week low of $47.03 and a 52 week high of $111.00.

Ashford declared that its board has initiated a stock repurchase plan on Monday, December 11th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in shares of Ashford in the 4th quarter valued at $292,000. California Public Employees Retirement System acquired a new position in Ashford during the fourth quarter worth $281,000. Globeflex Capital L P acquired a new position in Ashford during the fourth quarter worth $262,000. Finally, Millennium Management LLC acquired a new position in Ashford during the fourth quarter worth $212,000.

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Ashford Company Profile

Ashford Inc provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc (Ashford Prime) and its subsidiaries.

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