CorePoint Lodging (NYSE:CPLG) Raised to Hold at Zacks Investment Research

CorePoint Lodging (NYSE:CPLG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Corepoint Lodging Inc is a real-estate investment trust. It focused on select-service midscale and upper-midscale lodging. The company owns a diverse portfolio of hotels. Corepoint Lodging Inc is based in Irving, United States. “

CPLG has been the topic of a number of other research reports. ValuEngine upgraded shares of CorePoint Lodging from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of CorePoint Lodging from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $13.00 to $11.00 in a research note on Tuesday, July 9th.

Shares of NYSE:CPLG traded down $0.03 during trading on Monday, hitting $9.92. The company’s stock had a trading volume of 158,544 shares, compared to its average volume of 457,690. The company has a 50-day moving average of $9.82 and a 200-day moving average of $11.64. CorePoint Lodging has a 12 month low of $7.25 and a 12 month high of $18.75. The firm has a market cap of $573.65 million, a price-to-earnings ratio of 4.82 and a beta of 1.01.

CorePoint Lodging (NYSE:CPLG) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.67). CorePoint Lodging had a negative return on equity of 6.95% and a negative net margin of 28.49%. The business had revenue of $219.00 million during the quarter, compared to the consensus estimate of $226.19 million. On average, equities research analysts forecast that CorePoint Lodging will post 1.59 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aperio Group LLC purchased a new stake in CorePoint Lodging during the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its holdings in CorePoint Lodging by 139.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,099 shares of the company’s stock valued at $51,000 after buying an additional 2,389 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in CorePoint Lodging by 82.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,073 shares of the company’s stock valued at $63,000 after buying an additional 2,288 shares in the last quarter. Quantamental Technologies LLC grew its holdings in CorePoint Lodging by 30.7% during the 2nd quarter. Quantamental Technologies LLC now owns 6,013 shares of the company’s stock valued at $75,000 after buying an additional 1,413 shares in the last quarter. Finally, Schnieders Capital Management LLC purchased a new stake in CorePoint Lodging during the 2nd quarter valued at approximately $124,000. Institutional investors own 86.97% of the company’s stock.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, operates midscale and upper-midscale select-service hotels primarily under the La Quinta brand. As of March 21, 2019, it had a portfolio of 313 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is based in Irving, Texas.

Read More: Why is a lock-up period needed for an IPO?

Get a free copy of the Zacks research report on CorePoint Lodging (CPLG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CorePoint Lodging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorePoint Lodging and related companies with MarketBeat.com's FREE daily email newsletter.