Playa Hotels & Resorts (NASDAQ:PLYA) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a hold rating to a buy rating in a research report released on Thursday morning, BidAskClub reports.

Several other research firms also recently weighed in on PLYA. Zacks Investment Research downgraded shares of Playa Hotels & Resorts from a hold rating to a strong sell rating in a report on Friday, July 31st. Citigroup upped their target price on shares of Playa Hotels & Resorts from $1.00 to $3.00 and gave the stock a sell rating in a report on Thursday, July 2nd. They noted that the move was a valuation call. Finally, Deutsche Bank reaffirmed a buy rating and issued a $8.00 price target on shares of Playa Hotels & Resorts in a research report on Sunday, August 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Playa Hotels & Resorts presently has a consensus rating of Hold and an average price target of $5.10.

Shares of PLYA opened at $4.31 on Thursday. Playa Hotels & Resorts has a one year low of $1.30 and a one year high of $8.59. The company has a market cap of $579.67 million, a PE ratio of -3.56 and a beta of 2.15. The stock has a 50-day moving average of $4.06 and a 200-day moving average of $3.28. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.79 and a quick ratio of 2.68.

Playa Hotels & Resorts (NASDAQ:PLYA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.01. Playa Hotels & Resorts had a negative return on equity of 12.73% and a negative net margin of 34.82%. The firm had revenue of $0.98 million during the quarter, compared to analysts’ expectations of $0.61 million. During the same quarter last year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was down 99.4% compared to the same quarter last year. Analysts expect that Playa Hotels & Resorts will post -1.4 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in Playa Hotels & Resorts by 1.9% in the 1st quarter. Wells Fargo & Company MN now owns 652,831 shares of the company’s stock valued at $1,142,000 after buying an additional 12,025 shares during the last quarter. WINTON GROUP Ltd grew its holdings in shares of Playa Hotels & Resorts by 23.1% in the second quarter. WINTON GROUP Ltd now owns 346,850 shares of the company’s stock valued at $1,256,000 after acquiring an additional 64,988 shares in the last quarter. BlackRock Inc. increased its position in shares of Playa Hotels & Resorts by 3.3% during the first quarter. BlackRock Inc. now owns 1,298,507 shares of the company’s stock valued at $2,272,000 after acquiring an additional 41,393 shares during the last quarter. First Trust Advisors LP lifted its holdings in Playa Hotels & Resorts by 443.2% during the second quarter. First Trust Advisors LP now owns 558,431 shares of the company’s stock worth $2,022,000 after acquiring an additional 455,621 shares during the period. Finally, Geode Capital Management LLC boosted its position in Playa Hotels & Resorts by 3.3% in the first quarter. Geode Capital Management LLC now owns 582,675 shares of the company’s stock worth $1,019,000 after purchasing an additional 18,689 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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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