Morgan Stanley Boosts Hyatt Hotels (NYSE:H) Price Target to $48.00
Hyatt Hotels (NYSE:H) had its price objective raised by Morgan Stanley from $46.00 to $48.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the stock.
A number of other equities research analysts also recently weighed in on H. SunTrust Banks downgraded Hyatt Hotels from a hold rating to a sell rating in a report on Friday, July 24th. Deutsche Bank cut their price objective on Hyatt Hotels from $86.00 to $54.00 and set a hold rating for the company in a report on Friday, May 8th. Gordon Haskett assumed coverage on Hyatt Hotels in a report on Thursday, June 25th. They issued an underperform rating and a $43.00 price objective for the company. UBS Group upped their target price on Hyatt Hotels from $23.00 to $25.00 and gave the company a sell rating in a report on Friday, June 5th. Finally, Wells Fargo & Co dropped their price target on Hyatt Hotels from $68.00 to $55.00 and set an equal weight rating on the stock in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $54.74.
Hyatt Hotels stock traded down $1.12 during trading hours on Wednesday, reaching $48.00. 1,107,808 shares of the stock were exchanged, compared to its average volume of 698,073. The stock has a market cap of $4.96 billion, a P/E ratio of 39.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.47 and a current ratio of 1.48. Hyatt Hotels has a 52-week low of $24.02 and a 52-week high of $94.98. The firm’s 50 day moving average is $51.58 and its 200 day moving average is $61.54.
In other news, insider Mark R. Vondrasek sold 2,561 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $45.32, for a total value of $116,064.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in Hyatt Hotels by 20.9% during the 1st quarter. Wellington Management Group LLP now owns 3,346,914 shares of the company’s stock worth $160,318,000 after acquiring an additional 578,218 shares during the period. Principal Financial Group Inc. grew its holdings in Hyatt Hotels by 9.8% during the 1st quarter. Principal Financial Group Inc. now owns 2,673,815 shares of the company’s stock worth $128,075,000 after acquiring an additional 237,907 shares during the period. Melvin Capital Management LP grew its holdings in Hyatt Hotels by 52.9% during the 1st quarter. Melvin Capital Management LP now owns 2,600,000 shares of the company’s stock worth $124,540,000 after acquiring an additional 900,000 shares during the period. Southeastern Asset Management Inc. TN acquired a new stake in Hyatt Hotels during the 1st quarter worth $111,791,000. Finally, Victory Capital Management Inc. grew its holdings in Hyatt Hotels by 48.8% during the 1st quarter. Victory Capital Management Inc. now owns 943,202 shares of the company’s stock worth $45,179,000 after acquiring an additional 309,136 shares during the period. 35.77% of the stock is currently owned by hedge funds and other institutional investors.
About Hyatt Hotels
Hyatt Hotels Corporation, a hospitality company, develops, owns, operates, manages, franchises, licenses, or provides services to hotels, resorts, residential, and other properties. It operates through four segments: Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, and EAME/SW Asia Management and Franchising.
See Also: 52 Week Highs and Lows
Receive News & Ratings for Hyatt Hotels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hyatt Hotels and related companies with MarketBeat.com's FREE daily email newsletter.