SunTrust Banks Boosts Hyatt Hotels (H) Price Target to $80.00
Hyatt Hotels (NYSE:H) had its price target lifted by equities researchers at SunTrust Banks to $80.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has a “hold” rating on the stock. SunTrust Banks’ target price indicates a potential downside of 1.06% from the stock’s current price. SunTrust Banks also issued estimates for Hyatt Hotels’ Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.26 EPS, Q1 2019 earnings at $0.40 EPS and Q2 2019 earnings at $0.63 EPS.
A number of other research analysts have also recently issued reports on H. Robert W. Baird set a $70.00 price target on shares of Hyatt Hotels and gave the stock a “buy” rating in a report on Sunday, October 29th. Morgan Stanley raised their price target on shares of Hyatt Hotels from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, November 3rd. Wells Fargo & Co raised shares of Hyatt Hotels from a “market perform” rating to an “outperform” rating and set a $76.00 price target for the company in a report on Monday, November 6th. B. Riley cut shares of Hyatt Hotels from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a report on Monday, November 6th. Finally, Stifel Nicolaus raised their price target on shares of Hyatt Hotels from $61.00 to $67.00 and gave the stock a “hold” rating in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $80.23.
Shares of Hyatt Hotels (NYSE H) opened at $80.86 on Tuesday. The firm has a market cap of $9,610.00, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 12.31 and a beta of 1.31. Hyatt Hotels has a one year low of $50.21 and a one year high of $82.50. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 0.41.
Hyatt Hotels declared that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Mark Samuel Hoplamazian sold 49,173 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $71.54, for a total transaction of $3,517,836.42. Following the completion of the transaction, the insider now owns 300,655 shares of the company’s stock, valued at $21,508,858.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 27.51% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Cerebellum GP LLC acquired a new stake in Hyatt Hotels during the fourth quarter valued at $132,000. Acadian Asset Management LLC grew its position in Hyatt Hotels by 134.7% during the fourth quarter. Acadian Asset Management LLC now owns 2,244 shares of the company’s stock valued at $165,000 after buying an additional 1,288 shares during the period. Capital Fund Management S.A. acquired a new stake in Hyatt Hotels during the fourth quarter valued at $202,000. Prudential Financial Inc. acquired a new stake in Hyatt Hotels during the third quarter valued at $212,000. Finally, State of Alaska Department of Revenue acquired a new stake in Hyatt Hotels during the fourth quarter valued at $220,000. Institutional investors own 38.74% of the company’s stock.
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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