CorePoint Lodging (NYSE:CPLG) Stock Rating Upgraded by 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 Tuesday, 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. JPMorgan Chase & Co. started coverage on Pinduoduo in a report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price objective on the stock. TheStreet upgraded Voya Financial from a “c+” rating to a “b-” rating in a report on Friday, April 5th. Finally, ValuEngine downgraded WideOpenWest from a “hold” rating to a “sell” rating in a report on Friday, June 28th.

NYSE CPLG traded up $0.31 during trading hours on Tuesday, hitting $12.35. 361,100 shares of the company were exchanged, compared to its average volume of 472,052. The company’s 50 day simple moving average is $12.59. CorePoint Lodging has a 52-week low of $10.16 and a 52-week high of $26.02. The firm has a market capitalization of $703.86 million and a price-to-earnings ratio of 6.00.

CorePoint Lodging (NYSE:CPLG) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.16). CorePoint Lodging had a negative return on equity of 7.22% and a negative net margin of 31.35%. The company had revenue of $208.00 million for the quarter, compared to analysts’ expectations of $202.35 million. On average, equities analysts predict that CorePoint Lodging will post 1.97 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPLG. Prudential Financial Inc. raised its holdings in CorePoint Lodging by 119.5% during the fourth quarter. Prudential Financial Inc. now owns 78,476 shares of the company’s stock worth $961,000 after buying an additional 42,721 shares during the last quarter. BlackRock Inc. raised its holdings in shares of CorePoint Lodging by 7.1% in the fourth quarter. BlackRock Inc. now owns 3,132,905 shares of the company’s stock valued at $38,378,000 after purchasing an additional 207,447 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CorePoint Lodging by 136.1% in the fourth quarter. Bank of New York Mellon Corp now owns 427,299 shares of the company’s stock valued at $5,235,000 after purchasing an additional 246,337 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of CorePoint Lodging in the fourth quarter valued at about $181,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of CorePoint Lodging by 637.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 31,100 shares of the company’s stock valued at $353,000 after purchasing an additional 26,882 shares during the last quarter. Institutional investors and hedge funds own 93.11% 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.

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