Raymond James Financial upgraded shares of Hyatt Hotels (NYSE:H) from a market perform rating to an outperform rating in a report released on Monday, MarketBeat Ratings reports. They currently have $82.00 price target on the stock.
A number of other research analysts have also recently commented on the company. MKM Partners raised Hyatt Hotels from a neutral rating to a buy rating and set a $79.00 target price on the stock in a research note on Thursday, December 7th. Morgan Stanley upped their target price on Hyatt Hotels from $63.00 to $67.00 and gave the company an equal weight rating in a research note on Friday, November 3rd. Wells Fargo & Co raised Hyatt Hotels from a market perform rating to an outperform rating and set a $76.00 target price on the stock in a research note on Monday, November 6th. Berenberg Bank raised Hyatt Hotels from a hold rating to a buy rating and upped their target price for the company from $69.20 to $78.00 in a research note on Friday, November 10th. Finally, Robert W. Baird set a $78.00 target price on Hyatt Hotels and gave the company a buy rating in a research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Hyatt Hotels has a consensus rating of Buy and a consensus price target of $73.85.
Shares of Hyatt Hotels (H) traded up $0.60 during midday trading on Monday, reaching $76.91. The company’s stock had a trading volume of 970,300 shares, compared to its average volume of 861,214. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. Hyatt Hotels has a 52 week low of $50.21 and a 52 week high of $76.91. The company has a market capitalization of $9,140.00, a PE ratio of 46.33, a P/E/G ratio of 12.80 and a beta of 1.25.
Hyatt Hotels declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 14th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Stephen G. Haggerty sold 46,869 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $61.77, for a total value of $2,895,098.13. Following the transaction, the insider now owns 32,125 shares of the company’s stock, valued at $1,984,361.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Elsinore Trust sold 157,476 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $61.48, for a total value of $9,681,624.48. Following the completion of the transaction, the insider now directly owns 32,125 shares in the company, valued at approximately $1,975,045. The disclosure for this sale can be found here. In the last three months, insiders sold 986,001 shares of company stock worth $67,260,348. 27.51% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its holdings in Hyatt Hotels by 16.7% during the third quarter. Public Employees Retirement System of Ohio now owns 19,442 shares of the company’s stock worth $1,201,000 after buying an additional 2,782 shares during the period. California Public Employees Retirement System lifted its holdings in Hyatt Hotels by 4.9% during the third quarter. California Public Employees Retirement System now owns 102,716 shares of the company’s stock worth $6,347,000 after buying an additional 4,816 shares during the period. Bamco Inc. NY lifted its holdings in Hyatt Hotels by 0.4% during the third quarter. Bamco Inc. NY now owns 4,456,997 shares of the company’s stock worth $275,398,000 after buying an additional 17,660 shares during the period. Highbridge Capital Management LLC lifted its holdings in Hyatt Hotels by 483.4% during the third quarter. Highbridge Capital Management LLC now owns 62,129 shares of the company’s stock worth $3,839,000 after buying an additional 51,479 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Hyatt Hotels by 585.1% during the third quarter. Jane Street Group LLC now owns 34,723 shares of the company’s stock worth $2,146,000 after buying an additional 29,655 shares during the period. 38.79% of the stock is currently owned by institutional investors.
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About Hyatt Hotels
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).
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