Extended Stay America (NYSE:STAY) Downgraded by Jefferies Financial Group

Jefferies Financial Group downgraded shares of Extended Stay America (NYSE:STAY) from a buy rating to a hold rating in a research report released on Thursday morning, BenzingaRatingsTable reports. They currently have $16.00 price objective on the stock, down from their prior price objective of $24.00. The analysts noted that the move was a valuation call.

Several other research analysts also recently commented on STAY. Stifel Nicolaus lowered their price objective on shares of Extended Stay America from $20.50 to $18.00 and set a buy rating for the company in a research report on Wednesday. Zacks Investment Research downgraded shares of Extended Stay America from a hold rating to a sell rating and set a $15.00 price objective for the company. in a research report on Tuesday, May 28th. Finally, Deutsche Bank set a $22.00 price objective on shares of Extended Stay America and gave the company a buy rating in a research report on Sunday, July 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $18.70.

STAY traded down $0.37 during trading on Thursday, hitting $14.65. 4,232,707 shares of the stock traded hands, compared to its average volume of 1,817,604. Extended Stay America has a twelve month low of $12.88 and a twelve month high of $21.26. The business’s 50 day moving average is $16.44.

Extended Stay America (NYSE:STAY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $323.70 million for the quarter, compared to analyst estimates of $317.12 million. During the same period in the prior year, the company posted $0.35 EPS. Extended Stay America’s quarterly revenue was down 3.8% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.92 annualized dividend and a dividend yield of 6.28%.

Several large investors have recently made changes to their positions in STAY. Sterling Investment Advisors Ltd. acquired a new position in shares of Extended Stay America during the second quarter worth $34,000. Quadrant Capital Group LLC acquired a new position in shares of Extended Stay America during the first quarter worth $48,000. First Quadrant L P CA increased its holdings in shares of Extended Stay America by 97.1% during the first quarter. First Quadrant L P CA now owns 8,562 shares of the company’s stock worth $154,000 after buying an additional 4,217 shares in the last quarter. First Bank & Trust increased its holdings in shares of Extended Stay America by 40.0% during the first quarter. First Bank & Trust now owns 9,282 shares of the company’s stock worth $167,000 after buying an additional 2,652 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Extended Stay America during the first quarter worth $171,000. Institutional investors own 96.67% of the company’s stock.

Extended Stay America Company Profile

Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.

Further Reading: Intrinsic Value and Stock Selection

Analyst Recommendations for Extended Stay America (NYSE:STAY)

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