Zacks Investment Research Downgrades Extended Stay America, Inc. (NYSE:STAY) to Sell

Zacks Investment Research cut shares of Extended Stay America, Inc. (NYSE:STAY) from a hold rating to a sell rating in a report released on Tuesday, October 17th.

According to Zacks, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina. “



Several other research firms have also issued reports on STAY. BidaskClub raised Extended Stay America from a sell rating to a hold rating in a research note on Saturday, October 7th. Robert W. Baird reissued a buy rating and set a $21.00 price objective on shares of Extended Stay America in a research note on Friday, September 8th. Finally, Stifel Nicolaus reissued a buy rating and set a $21.00 price objective (up previously from $20.00) on shares of Extended Stay America in a research note on Thursday, June 29th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $21.20.

Extended Stay America (STAY) opened at 19.82 on Tuesday. Extended Stay America has a one year low of $13.46 and a one year high of $20.95. The firm has a 50-day moving average price of $20.09 and a 200 day moving average price of $19.00. The firm has a market capitalization of $3.81 billion, a PE ratio of 25.44 and a beta of 1.06.

Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). The company had revenue of $338.36 million during the quarter, compared to the consensus estimate of $342.70 million. Extended Stay America had a return on equity of 14.53% and a net margin of 5.24%. Extended Stay America’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. Analysts anticipate that Extended Stay America will post $1.02 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caxton Associates LP raised its position in Extended Stay America by 0.4% during the second quarter. Caxton Associates LP now owns 27,400 shares of the company’s stock valued at $530,000 after purchasing an additional 100 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Extended Stay America by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock valued at $120,000 after purchasing an additional 367 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Extended Stay America by 3.3% during the first quarter. Public Employees Retirement System of Ohio now owns 28,640 shares of the company’s stock valued at $457,000 after purchasing an additional 918 shares in the last quarter. Paragon Capital Management Ltd raised its position in Extended Stay America by 15.1% during the second quarter. Paragon Capital Management Ltd now owns 11,589 shares of the company’s stock valued at $224,000 after purchasing an additional 1,521 shares in the last quarter. Finally, Reinhart Partners Inc. raised its position in Extended Stay America by 1.4% during the second quarter. Reinhart Partners Inc. now owns 141,590 shares of the company’s stock valued at $2,741,000 after purchasing an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 99.47% of the company’s stock.

Extended Stay America Company Profile

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

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Analyst Recommendations for Extended Stay America (NYSE:STAY)

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