Playa Hotels & Resorts (PLYA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a hold rating to a sell rating in a report published on Wednesday morning.

According to Zacks, “Playa Hotels & Resorts N.V. is an owner, operator and developer of resorts primarily in Mexico and the Caribbean. The company owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara and Hyatt Ziva Rose Hall Jamaica, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. Playa Hotels & Resorts N.V. is based in Faifax, United States. “

Several other research analysts have also weighed in on the company. BidaskClub raised Playa Hotels & Resorts from a sell rating to a hold rating in a research report on Friday, October 12th. Deutsche Bank set a $15.00 price target on Playa Hotels & Resorts and gave the stock a buy rating in a research report on Wednesday, October 10th. Citigroup set a $11.00 price target on Playa Hotels & Resorts and gave the stock a hold rating in a research report on Tuesday, September 18th. Nomura lowered Playa Hotels & Resorts from a buy rating to a neutral rating and lowered their price target for the stock from $14.00 to $11.00 in a research report on Tuesday, September 18th. Finally, SunTrust Banks assumed coverage on Playa Hotels & Resorts in a research report on Tuesday, August 28th. They set a buy rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $12.96.

NASDAQ:PLYA opened at $9.17 on Wednesday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 24.13 and a beta of -0.11. Playa Hotels & Resorts has a twelve month low of $8.89 and a twelve month high of $11.69. The company has a current ratio of 1.79, a quick ratio of 1.68 and a debt-to-equity ratio of 1.16.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings results on Monday, August 6th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The firm had revenue of $145.57 million for the quarter, compared to analyst estimates of $144.83 million. Playa Hotels & Resorts had a return on equity of 8.22% and a net margin of 3.75%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 EPS. Research analysts forecast that Playa Hotels & Resorts will post 0.38 EPS for the current fiscal year.

In other Playa Hotels & Resorts news, Director Karl Mr. Peterson bought 50,000 shares of Playa Hotels & Resorts stock in a transaction dated Friday, August 10th. The stock was bought at an average cost of $10.35 per share, for a total transaction of $517,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.74% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Playa Hotels & Resorts by 21.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,128,920 shares of the company’s stock worth $12,192,000 after acquiring an additional 197,520 shares during the period. Northpointe Capital LLC boosted its stake in Playa Hotels & Resorts by 55.7% in the 2nd quarter. Northpointe Capital LLC now owns 879,014 shares of the company’s stock valued at $9,493,000 after purchasing an additional 314,556 shares during the period. Millennium Management LLC boosted its stake in Playa Hotels & Resorts by 70.3% in the 2nd quarter. Millennium Management LLC now owns 865,544 shares of the company’s stock valued at $9,348,000 after purchasing an additional 357,359 shares during the period. BlackRock Inc. boosted its stake in Playa Hotels & Resorts by 10.2% in the 2nd quarter. BlackRock Inc. now owns 335,764 shares of the company’s stock valued at $3,627,000 after purchasing an additional 31,117 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Playa Hotels & Resorts by 53.4% in the 2nd quarter. Renaissance Technologies LLC now owns 324,200 shares of the company’s stock valued at $3,501,000 after purchasing an additional 112,809 shares during the period. Institutional investors own 69.01% of the company’s stock.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V. owns, operates, develops, and manages all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company owns, operates, and manages resorts under the Hyatt Ziva, Panama Jack, Dreams, Sanctuary, Hyatt Zilara, THE Royal, and Secrets brand names.

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