Playa Hotels & Resorts (NASDAQ:PLYA) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a sell rating to a hold rating in a research report report published on Wednesday, BidAskClub reports.

Several other analysts have also recently commented on PLYA. ValuEngine upgraded shares of Playa Hotels & Resorts from a hold rating to a buy rating in a report on Tuesday, December 3rd. Deutsche Bank set a $13.00 price target on shares of Playa Hotels & Resorts and gave the company a buy rating in a report on Wednesday, August 7th. Zacks Investment Research raised shares of Playa Hotels & Resorts from a sell rating to a hold rating in a research note on Tuesday, October 15th. SunTrust Banks reduced their price objective on Playa Hotels & Resorts from $11.00 to $10.00 and set a buy rating for the company in a research report on Friday, November 29th. Finally, TheStreet downgraded Playa Hotels & Resorts from a c- rating to a d+ rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Playa Hotels & Resorts has a consensus rating of Buy and a consensus price target of $10.58.

Shares of PLYA stock opened at $7.57 on Wednesday. Playa Hotels & Resorts has a 1-year low of $5.98 and a 1-year high of $8.95. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $978.54 million, a price-to-earnings ratio of 23.64 and a beta of 0.30. The stock’s fifty day simple moving average is $7.77 and its 200-day simple moving average is $7.76.

Playa Hotels & Resorts (NASDAQ:PLYA) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.07). Playa Hotels & Resorts had a positive return on equity of 2.07% and a negative net margin of 0.10%. The business had revenue of $132.83 million for the quarter, compared to analyst estimates of $130.47 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank bought a new stake in Playa Hotels & Resorts in the second quarter worth approximately $33,000. First Manhattan Co. boosted its holdings in Playa Hotels & Resorts by 538.9% in the second quarter. First Manhattan Co. now owns 5,750 shares of the company’s stock worth $44,000 after purchasing an additional 4,850 shares in the last quarter. Aperio Group LLC bought a new stake in Playa Hotels & Resorts in the second quarter worth $54,000. Ellington Management Group LLC acquired a new position in Playa Hotels & Resorts during the second quarter worth $90,000. Finally, JPMorgan Chase & Co. increased its position in Playa Hotels & Resorts by 353.8% during the second quarter. JPMorgan Chase & Co. now owns 12,307 shares of the company’s stock worth $94,000 after buying an additional 9,595 shares during the last quarter. 67.79% of the stock is currently owned by hedge funds and other institutional investors.

About Playa Hotels & Resorts

Playa Hotels & Resorts N.V. owns, operates, and develops all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company operates under eight brand names. As of February 28, 2019, it owned a portfolio consisting of 21 resorts comprising 7,908 rooms located in Mexico, Jamaica, and the Dominican Republic.

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