Extended Stay America (NYSE:STAY) had its price target boosted by Morgan Stanley from $10.00 to $11.00 in a report released on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the stock.
A number of other equities analysts have also recently weighed in on STAY. Jefferies Financial Group raised shares of Extended Stay America from a hold rating to a buy rating and upped their price objective for the company from $7.00 to $14.00 in a research report on Wednesday, April 22nd. Deutsche Bank reaffirmed a buy rating and set a $16.00 price target on shares of Extended Stay America in a research report on Friday, May 8th. Zacks Investment Research cut shares of Extended Stay America from a buy rating to a hold rating and set a $13.00 price target on the stock. in a research report on Thursday, May 28th. Barclays increased their price target on shares of Extended Stay America from $10.00 to $14.00 and gave the stock an overweight rating in a research report on Monday, May 11th. Finally, Citigroup reduced their price target on shares of Extended Stay America from $15.00 to $8.00 and set a neutral rating on the stock in a research report on Tuesday, April 7th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Extended Stay America currently has a consensus rating of Hold and an average target price of $13.90.
NYSE:STAY opened at $11.41 on Wednesday. The firm has a 50-day moving average of $11.33 and a two-hundred day moving average of $10.93. Extended Stay America has a 1-year low of $5.35 and a 1-year high of $16.90.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $266.30 million during the quarter, compared to analysts’ expectations of $252.16 million. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share.
In other Extended Stay America news, Director Richard F. Wallman bought 20,000 shares of Extended Stay America stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $10.81 per share, for a total transaction of $216,200.00. Following the completion of the acquisition, the director now owns 140,806 shares of the company’s stock, valued at approximately $1,522,112.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin A. Henry sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $10.93, for a total transaction of $92,905.00. Following the sale, the insider now owns 125,236 shares of the company’s stock, valued at $1,368,829.48. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Blackstone Group Inc acquired a new position in Extended Stay America in the 1st quarter worth approximately $63,185,000. Geode Capital Management LLC boosted its stake in Extended Stay America by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 4,498,005 shares of the company’s stock worth $66,840,000 after purchasing an additional 92,888 shares during the period. State Street Corp boosted its stake in Extended Stay America by 12.2% in the 1st quarter. State Street Corp now owns 2,618,265 shares of the company’s stock worth $19,140,000 after purchasing an additional 284,924 shares during the period. Sasco Capital Inc. CT boosted its stake in Extended Stay America by 56.2% in the 1st quarter. Sasco Capital Inc. CT now owns 2,533,115 shares of the company’s stock worth $18,517,000 after purchasing an additional 911,133 shares during the period. Finally, Reinhart Partners Inc. boosted its stake in shares of Extended Stay America by 12.6% during the 2nd quarter. Reinhart Partners Inc. now owns 2,238,349 shares of the company’s stock valued at $25,047,000 after buying an additional 249,809 shares during the period. 96.67% of the stock is owned by hedge funds and other institutional investors.
Extended Stay America Company Profile
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.
Further Reading: What is diluted earnings per share (Diluted EPS)?
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