Playa Hotels & Resorts (NASDAQ:PLYA) Rating Increased to Buy at Zacks Investment Research

Playa Hotels & Resorts (NASDAQ:PLYA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage presently has a $9.75 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.63% from the stock’s current price.

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. “

Separately, Citigroup upped their price objective on Playa Hotels & Resorts from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Playa Hotels & Resorts currently has a consensus rating of “Buy” and an average price target of $8.67.

Playa Hotels & Resorts stock opened at $8.36 on Thursday. Playa Hotels & Resorts has a twelve month low of $3.76 and a twelve month high of $9.25. The stock’s fifty day simple moving average is $7.49 and its 200-day simple moving average is $7.33. The company has a current ratio of 2.48, a quick ratio of 2.38 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $1.37 billion, a P/E ratio of -5.19 and a beta of 2.22.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings data on Wednesday, August 4th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.13. Playa Hotels & Resorts had a negative return on equity of 31.58% and a negative net margin of 76.24%. The business had revenue of $128.80 million for the quarter, compared to analyst estimates of $99.48 million. During the same quarter in the prior year, the company earned ($0.46) earnings per share. The company’s revenue was up 13016.4% on a year-over-year basis. Sell-side analysts predict that Playa Hotels & Resorts will post -0.5 earnings per share for the current year.

In related news, Director Karl Mr. Peterson sold 40,000 shares of the stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $7.22, for a total value of $288,800.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 71,595 shares of company stock worth $507,660 in the last three months. 6.91% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Paloma Partners Management Co acquired a new position in Playa Hotels & Resorts in the first quarter valued at $80,000. Pinz Capital Management LP acquired a new position in Playa Hotels & Resorts in the second quarter valued at $119,000. Robertson Stephens Wealth Management LLC acquired a new position in Playa Hotels & Resorts in the second quarter valued at $148,000. Golden State Equity Partners acquired a new position in Playa Hotels & Resorts in the second quarter valued at $156,000. Finally, Voloridge Investment Management LLC acquired a new position in Playa Hotels & Resorts in the first quarter valued at $160,000. Institutional investors own 74.71% of the company’s stock.

About Playa Hotels & Resorts

Playa Hotels & Resorts NV operates hotels and resorts. It engages in the ownership, operation, and development of all-inclusive resorts in beachfront location destinations in Mexico and the Caribbean. The company owns and manages Hyatt Zilara Cancun, Hyatt Ziva Cancun, Panama Jack Resorts Cancun, Panama Jack Resorts Playa del Carmen, Hilton Playa del Carmen an All-Inclusive Resort, Hyatt Ziva Puerto Vallarta, Hyatt Ziva Los Cabos, Hyatt Zilara Rose Hall and Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Dunn’s River Beach Resort, Jewel Grande Montego Bay Resort & Spa, Jewel Runaway Bay Beach & Golf Resort, Jewel Paradise Cove Beach Resort & Spa, Hyatt Zilara Cap Cana, Hyatt Ziva Cap Cana Hilton La Romana an All-Inclusive Family Resort and Hilton La Romana an All-Inclusive Adult Resort.

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Analyst Recommendations for Playa Hotels & Resorts (NASDAQ:PLYA)

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