Zacks Investment Research downgraded shares of Hyatt Hotels (NYSE:H) from a strong-buy rating to a hold rating in a report released on Thursday.
According to Zacks, “Hyatt’s shares have outperformed the industry over the past six months. The company also saw upward revisions for 2018 earnings over the last 60 days. Hyatt’s strong developmental pipeline, consistent expansion plans and large international exposure continue driving growth. Extension of the Hyatt brand beyond traditional hotel stays into the swiftly growing wellness space with the Miraval acquisition also bodes well. However, owing to international expansion, Hyatt is exposed to headwinds in the regions where it operates. Various macroeconomic issues in the Middle East and economic slowdown in China may keep revenues under pressure. Also, volatility in exchange rates might continue to hurt results. In fact, the company has been witnessing a decline in international inbound travel, given a stronger dollar.”
Other research analysts also recently issued reports about the stock. Robert W. Baird set a $78.00 price objective on shares of Hyatt Hotels and gave the company a buy rating in a research report on Friday, December 15th. Wolfe Research raised shares of Hyatt Hotels from a market perform rating to an outperform rating in a research report on Thursday, December 21st. Stifel Nicolaus boosted their price objective on shares of Hyatt Hotels from $61.00 to $67.00 and gave the company a hold rating in a research report on Monday, November 6th. Morgan Stanley boosted their price objective on shares of Hyatt Hotels from $63.00 to $67.00 and gave the company an equal weight rating in a research report on Friday, November 3rd. Finally, Citigroup raised shares of Hyatt Hotels from a neutral rating to a buy rating and set a $82.00 price objective on the stock in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $73.85.
Hyatt Hotels (NYSE:H) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.09. Hyatt Hotels had a net margin of 4.66% and a return on equity of 6.13%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. equities analysts predict that Hyatt Hotels will post 1.73 earnings per share for the current year.
Hyatt Hotels announced that its board has approved a stock buyback program on Thursday, December 14th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, insider Elsinore Trust sold 111,003 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $69.56, for a total value of $7,721,368.68. Following the completion of the sale, the insider now directly owns 40,878 shares in the company, valued at $2,843,473.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Samuel Hoplamazian sold 49,173 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $71.54, for a total transaction of $3,517,836.42. Following the completion of the sale, the insider now owns 300,655 shares of the company’s stock, valued at $21,508,858.70. The disclosure for this sale can be found here. Insiders sold 774,539 shares of company stock valued at $54,245,219 over the last three months. Insiders own 27.51% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bamco Inc. NY lifted its stake in shares of Hyatt Hotels by 0.4% in 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 last quarter. Long Pond Capital LP lifted its stake in shares of Hyatt Hotels by 14.1% in the third quarter. Long Pond Capital LP now owns 3,035,548 shares of the company’s stock worth $187,567,000 after buying an additional 374,704 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Hyatt Hotels by 63.0% in the third quarter. BNP Paribas Arbitrage SA now owns 1,018,390 shares of the company’s stock worth $62,927,000 after buying an additional 393,424 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Hyatt Hotels in the second quarter worth $37,099,000. Finally, Gruss Capital Management LP lifted its stake in shares of Hyatt Hotels by 316.1% in the third quarter. Gruss Capital Management LP now owns 645,000 shares of the company’s stock worth $39,855,000 after buying an additional 490,000 shares during the last quarter. Institutional investors and hedge funds own 38.78% of the company’s stock.
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Hyatt Hotels Company Profile
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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