Choice Hotels International (NYSE:CHH) Sets New 12-Month High at $98.30

Choice Hotels International Inc (NYSE:CHH)’s stock price reached a new 52-week high on Monday . The company traded as high as $98.30 and last traded at $97.14, with a volume of 328443 shares. The stock had previously closed at $97.25.

A number of analysts have issued reports on CHH shares. Zacks Investment Research raised Choice Hotels International from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research report on Thursday, September 5th. Robert W. Baird initiated coverage on Choice Hotels International in a research report on Thursday, August 22nd. They set an “outperform” rating and a $97.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Choice Hotels International from $73.00 to $81.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Deutsche Bank reiterated a “hold” rating and issued a $82.00 price objective on shares of Choice Hotels International in a report on Wednesday, November 6th. Finally, Wells Fargo & Co decreased their target price on Choice Hotels International from $90.00 to $88.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Choice Hotels International has a consensus rating of “Hold” and a consensus price target of $88.11.

The firm has a market cap of $5.42 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 3.03 and a beta of 0.95. The company’s 50 day moving average price is $90.79 and its 200 day moving average price is $88.45.

Choice Hotels International (NYSE:CHH) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.08. The business had revenue of $310.73 million during the quarter, compared to the consensus estimate of $306.10 million. Choice Hotels International had a net margin of 19.43% and a negative return on equity of 174.81%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. As a group, equities analysts forecast that Choice Hotels International Inc will post 4.26 earnings per share for the current year.

In other news, insider Patrick Cimerola sold 15,056 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $92.06, for a total value of $1,386,055.36. Following the sale, the insider now directly owns 34,380 shares in the company, valued at $3,165,022.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 35,349 shares of company stock worth $3,186,161 in the last ninety days. Corporate insiders own 24.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in Choice Hotels International by 1,668.1% during the 2nd quarter. Invesco Ltd. now owns 587,733 shares of the company’s stock worth $51,138,000 after acquiring an additional 554,493 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Choice Hotels International during the second quarter worth approximately $16,723,000. Morgan Stanley lifted its position in shares of Choice Hotels International by 204.3% during the 2nd quarter. Morgan Stanley now owns 221,643 shares of the company’s stock worth $19,286,000 after buying an additional 148,804 shares during the last quarter. Eaton Vance Management boosted its holdings in shares of Choice Hotels International by 174.2% in the 2nd quarter. Eaton Vance Management now owns 201,790 shares of the company’s stock valued at $17,556,000 after buying an additional 128,188 shares in the last quarter. Finally, Man Group plc boosted its holdings in shares of Choice Hotels International by 36.8% in the 3rd quarter. Man Group plc now owns 430,923 shares of the company’s stock valued at $38,334,000 after buying an additional 115,877 shares in the last quarter. 60.42% of the stock is owned by hedge funds and other institutional investors.

About Choice Hotels International (NYSE:CHH)

Choice Hotels International, Inc, together with its subsidiaries, operates as a hotel franchisor worldwide. It operates through Hotel Franchising and Corporate & Other segments. The company franchises lodging properties under the brand names of Comfort Inn, Comfort Suites, Quality, Clarion, Clarion Pointe, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, WoodSpring Suites, Cambria Hotels, V8 Hotel Köln @Motorworld, Quality Hotel Ostrava, Hotel Aquarius Venice, and Ascend Hotel Collection.

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