Zacks Investment Research Upgrades Ashford (AINC) to “Hold”

Ashford (NYSEAMERICAN:AINC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “

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Other analysts also recently issued reports about the stock. TheStreet downgraded shares of Ashford from a “c-” rating to a “d” rating in a report on Tuesday, March 6th. B. Riley set a $95.00 price objective on shares of Ashford and gave the company a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $83.50.

AINC stock opened at $96.48 on Friday. Ashford has a 12 month low of $47.03 and a 12 month high of $111.00.

Ashford (NYSEAMERICAN:AINC) last released its quarterly earnings data on Thursday, March 1st. The financial services provider reported ($3.48) EPS for the quarter, missing the consensus estimate of $0.20 by ($3.68). The business had revenue of $29.67 million during the quarter, compared to analysts’ expectations of $27.54 million. Ashford had a negative net margin of 11.73% and a negative return on equity of 23.28%.

Ashford announced that its Board of Directors has initiated a share buyback program on Monday, December 11th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in AINC. Snow Park Capital Partners LP purchased a new stake in Ashford during the fourth quarter worth $1,226,000. Bank of New York Mellon Corp purchased a new stake in Ashford during the fourth quarter worth $292,000. California Public Employees Retirement System purchased a new stake in Ashford during the fourth quarter worth $281,000. Globeflex Capital L P purchased a new stake in Ashford during the fourth quarter worth $262,000. Finally, Millennium Management LLC purchased a new stake in Ashford during the fourth quarter worth $212,000.

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About Ashford

Ashford, Inc is an asset management firm. The firm provides investment management and related services to the real estate and hospitality sectors. Ashford, Inc was formed on April 2, 2014 and is based in Dallas, Texas.

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