Accor (OTCMKTS:ACCYY) Shares Gap Down – Here’s Why

Accor SA – Sponsored ADR (OTCMKTS:ACCYY)’s stock price gapped down prior to trading on Friday. The stock had previously closed at $10.85, but opened at $10.11. Accor shares last traded at $10.08, with a volume of 11,775 shares.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ACCYY shares. Jefferies Financial Group downgraded Accor from an “underperform” rating to a “hold” rating in a report on Thursday, June 25th. Citigroup reaffirmed a “buy” rating on shares of Accor in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Accor currently has an average rating of “Buy”.

Accor Trading Down 7.7%

The stock has a 50-day moving average price of $10.56 and a 200 day moving average price of $10.64.

About Accor

Accor is a global hospitality group that operates, manages and franchises hotels, resorts and other accommodation properties. Its portfolio spans economy, midscale, upscale and luxury segments, serving business and leisure travelers through a broad collection of hotel, resort and lifestyle brands.

The company’s brands include Raffles, Fairmont, Sofitel, MGallery, Novotel, Mercure, ibis, Pullman, Swissôtel, Mövenpick, Adagio and the Ennismore lifestyle portfolio. In addition to lodging, Accor’s activities include food and beverage, meetings and events, wellness, and other guest-focused hospitality services.

Accor traces its origins to 1967, when Paul Dubrule and Gérard Pélisson opened the first Novotel near Lille, France.