La Quinta (NYSE:LQ) received a $23.00 target price from investment analysts at Morgan Stanley in a report issued on Tuesday, February 13th. The brokerage presently has a “buy” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 20.04% from the stock’s current price.
Several other brokerages also recently commented on LQ. Wells Fargo & Co downgraded La Quinta from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Goldman Sachs Group raised La Quinta from a “sell” rating to a “neutral” rating in a research note on Friday, January 19th. Deutsche Bank lifted their price target on La Quinta to $23.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Stifel Nicolaus reissued a “hold” rating on shares of La Quinta in a research note on Thursday, February 1st. Finally, Zacks Investment Research raised La Quinta from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $20.25.
Shares of La Quinta (NYSE:LQ) traded down $0.07 during trading on Tuesday, reaching $19.16. The company had a trading volume of 392,407 shares, compared to its average volume of 1,545,814. The firm has a market cap of $2,220.63, a P/E ratio of 53.03, a PEG ratio of 8.55 and a beta of 1.83. La Quinta has a twelve month low of $11.76 and a twelve month high of $21.06. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.40 and a quick ratio of 1.40.
Several hedge funds and other institutional investors have recently made changes to their positions in LQ. Wells Fargo & Company MN grew its holdings in La Quinta by 13.2% during the second quarter. Wells Fargo & Company MN now owns 72,704 shares of the company’s stock worth $1,074,000 after purchasing an additional 8,498 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of La Quinta by 0.7% during the second quarter. New York State Common Retirement Fund now owns 157,357 shares of the company’s stock worth $2,324,000 after acquiring an additional 1,107 shares during the period. Vanguard Group Inc. boosted its holdings in shares of La Quinta by 2.0% during the second quarter. Vanguard Group Inc. now owns 6,658,222 shares of the company’s stock worth $98,342,000 after acquiring an additional 131,315 shares during the period. California Public Employees Retirement System bought a new stake in shares of La Quinta during the second quarter worth approximately $275,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of La Quinta by 10.8% during the second quarter. Parametric Portfolio Associates LLC now owns 135,118 shares of the company’s stock worth $1,996,000 after acquiring an additional 13,120 shares during the period. Institutional investors own 96.95% of the company’s stock.
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About La Quinta
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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