Zacks Investment Research upgraded shares of La Quinta (NYSE:LQ) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “La Quinta Holdings Inc. is an owner, operator and franchisor of select-service hotels in the United States, primarily serving the midscale and upper-midscale segments. It provides franchise services to hotels in the U.S., Canada and Mexico under the La Quinta Inns & Suites (TM) and La Quinta Inn (TM) brands. La Quinta Holdings Inc. is headquartered in Irving, Texas. “
Other research analysts also recently issued reports about the company. UBS Group upgraded La Quinta from a hold rating to a buy rating in a research report on Thursday, November 2nd. TheStreet downgraded La Quinta from a b rating to a c+ rating in a research report on Thursday, November 2nd. Finally, Wells Fargo & Co upgraded La Quinta from a market perform rating to an outperform rating and set a $22.00 price target for the company in a report on Friday, October 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $17.81.
Shares of La Quinta (LQ) opened at $18.01 on Wednesday. La Quinta has a 12-month low of $11.76 and a 12-month high of $18.59. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $2,145.89, a P/E ratio of 50.75, a PEG ratio of 12.28 and a beta of 1.85.
La Quinta (NYSE:LQ) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). La Quinta had a net margin of 3.11% and a return on equity of 6.23%. The company had revenue of $268.60 million for the quarter, compared to analyst estimates of $272.52 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. La Quinta’s revenue was down 1.4% on a year-over-year basis. sell-side analysts anticipate that La Quinta will post 0.33 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in LQ. Schwab Charles Investment Management Inc. grew its stake in shares of La Quinta by 5.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 507,218 shares of the company’s stock valued at $7,492,000 after buying an additional 27,651 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of La Quinta during the 2nd quarter valued at $1,194,000. JPMorgan Chase & Co. grew its stake in shares of La Quinta by 3.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,917,905 shares of the company’s stock valued at $116,948,000 after buying an additional 241,482 shares during the period. Wells Fargo & Company MN grew its stake in shares of La Quinta by 13.2% during the 2nd quarter. Wells Fargo & Company MN now owns 72,704 shares of the company’s stock valued at $1,074,000 after buying an additional 8,498 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of La Quinta by 201.1% during the 2nd quarter. Alliancebernstein L.P. now owns 394,100 shares of the company’s stock valued at $5,821,000 after buying an additional 263,200 shares during the period. 97.19% of the stock is owned by institutional investors.
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La Quinta Company Profile
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.
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