Extended Stay America (STAY) Receives Consensus Rating of “Buy” from Brokerages

Shares of Extended Stay America (NYSE:STAY) have earned an average rating of “Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.28.

Several research analysts recently commented on the company. Morgan Stanley raised their target price on Extended Stay America from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, April 9th. ValuEngine raised Extended Stay America from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Barclays reaffirmed an “overweight” rating and issued a $22.00 target price (up from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. Zacks Investment Research raised Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $20.50 price objective on shares of Extended Stay America in a research note on Tuesday, January 9th.

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In other news, insider Kevin A. Henry sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $19.23, for a total value of $192,300.00. Following the completion of the sale, the insider now directly owns 117,196 shares in the company, valued at $2,253,679.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Large investors have recently made changes to their positions in the company. Howe & Rusling Inc. acquired a new stake in shares of Extended Stay America in the fourth quarter valued at $116,000. The Manufacturers Life Insurance Company increased its stake in shares of Extended Stay America by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock valued at $120,000 after buying an additional 367 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Extended Stay America by 1,359.4% in the fourth quarter. CENTRAL TRUST Co now owns 8,304 shares of the company’s stock valued at $158,000 after buying an additional 7,735 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Extended Stay America in the third quarter valued at $175,000. Finally, MANA Advisors LLC acquired a new stake in shares of Extended Stay America in the fourth quarter valued at $197,000. Institutional investors own 98.89% of the company’s stock.

STAY stock traded up $0.11 during midday trading on Wednesday, hitting $20.55. The stock had a trading volume of 843,079 shares, compared to its average volume of 1,708,104. The stock has a market cap of $3,850.87, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93. Extended Stay America has a 52 week low of $16.27 and a 52 week high of $21.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.12 and a quick ratio of 0.12.

Extended Stay America (NYSE:STAY) last issued its earnings results on Tuesday, February 27th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $302.50 million during the quarter, compared to analysts’ expectations of $299.75 million. Extended Stay America had a return on equity of 14.42% and a net margin of 6.15%. Extended Stay America’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.20 earnings per share. equities research analysts anticipate that Extended Stay America will post 1.11 EPS for the current year.

Extended Stay America announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 13th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, March 12th. This represents a $0.84 annualized dividend and a yield of 4.09%. Extended Stay America’s dividend payout ratio is currently 84.00%.

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About Extended Stay America

Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.

Analyst Recommendations for Extended Stay America (NYSE:STAY)

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