Summit Hotel Properties (INN) Upgraded to Sell at ValuEngine

Summit Hotel Properties (NYSE:INN) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also recently commented on INN. Zacks Investment Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 4th. Bank of America cut shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Raymond James dropped their price target on shares of Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Deutsche Bank dropped their price target on shares of Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Finally, TheStreet cut shares of Summit Hotel Properties from a “b-” rating to a “c+” rating in a research note on Monday, November 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.17.

Shares of INN stock traded up $0.18 during trading hours on Thursday, reaching $11.12. 1,473,800 shares of the stock were exchanged, compared to its average volume of 654,126. Summit Hotel Properties has a 12-month low of $10.68 and a 12-month high of $16.15. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.15 billion, a PE ratio of 8.30, a P/E/G ratio of 5.89 and a beta of 1.36.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Summit Hotel Properties had a return on equity of 7.79% and a net margin of 16.76%. The firm had revenue of $142.34 million for the quarter, compared to analysts’ expectations of $141.18 million. During the same period in the prior year, the firm posted $0.35 earnings per share. Summit Hotel Properties’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Summit Hotel Properties will post 1.26 EPS for the current year.

In related news, Chairman Daniel P. Hansen acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was bought at an average price of $11.35 per share, for a total transaction of $113,500.00. Following the acquisition, the chairman now directly owns 1,001,155 shares of the company’s stock, valued at approximately $11,363,109.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.12% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Usca Ria LLC bought a new stake in Summit Hotel Properties during the 3rd quarter valued at about $142,000. Dynamic Technology Lab Private Ltd bought a new stake in Summit Hotel Properties during the 3rd quarter valued at about $142,000. Accident Compensation Corp bought a new stake in Summit Hotel Properties during the 3rd quarter valued at about $144,000. First Republic Investment Management Inc. bought a new stake in Summit Hotel Properties during the 3rd quarter valued at about $162,000. Finally, Paloma Partners Management Co bought a new stake in Summit Hotel Properties during the 2nd quarter valued at about $182,000.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of October 30, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,659 guestrooms located in 26 states.

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