Investment analysts at Deutsche Bank (NYSE: DB) assumed coverage on shares of Marriott (NYSE: MAR) in a note issued to investors on Tuesday. The firm set a “hold” rating and a $44.00 price target on the stock.
The analysts wrote, “At current levels, we believe the easy comparisons for MAR and favorable near and longer term demand-supply dynamics in the lodging industry are largely priced in. From here, we believe much of the story will depend on MAR’s ability to outpace industry RevPAR benchmarks and its use of free cash flow to garner incremental investor support. While we believe the majority of the MAR story stacks up nicely, we find much of the positives to be understood and reflected in valuation. As such, we are resuming coverage with a Hold.”
Shares of Marriott traded up 1.91% during mid-day trading on Tuesday, hitting $39.43. Marriott has a one year low of $25.49 and a one year high of $40.45. The company has a market cap of $13.052 billion and a P/E ratio of 67.17.
Marriott last issued its quarterly earnings data on Wednesday, April 18th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.01. Marriott’s revenue was down 8.1% compared to the same quarter last year. On average, analysts predict that Marriott will post $0.37 earnings per share next quarter.
A number of other firms have also recently commented on MAR. Analysts at Zacks reiterated a “neutral” rating on shares of Marriott in a research note to investors on Tuesday, May 1st. They now have a $41.00 price target on the stock. Separately, analysts at Argus upgraded shares of Marriott from a “hold” rating to a “buy” rating in a research note to investors on Thursday, April 26th. They now have a $48.00 price target on the stock. Finally, analysts at ISI Group raised their price target on shares of Marriott from $36.00 to $40.00 in a research note to investors on Friday, April 20th. They now have a “hold” rating on the stock.
Marriott International, Inc. is a worldwide operator and franchisor of hotels and related lodging facilities.