Deutsche Bank set a $22.00 price objective on Extended Stay America (NYSE:STAY) in a report issued on Sunday morning, TipRanks reports. The firm currently has a buy rating on the stock.
A number of other research firms also recently commented on STAY. Zacks Investment Research downgraded shares of Hanger from a hold rating to a sell rating in a research note on Tuesday, May 28th. Jefferies Financial Group reissued a buy rating on shares of Extended Stay America in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $20.36.
STAY stock traded down $0.01 during trading on Friday, reaching $16.89. 25,896 shares of the company were exchanged, compared to its average volume of 1,753,365. Extended Stay America has a 52-week low of $14.77 and a 52-week high of $22.37. The firm’s 50 day moving average is $17.06.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $277.67 million for the quarter, compared to analysts’ expectations of $273.58 million. During the same period in the previous year, the company posted $0.19 EPS. The business’s quarterly revenue was down 6.7% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of STAY. Norges Bank bought a new position in Extended Stay America during the 4th quarter worth $34,578,000. BlackRock Inc. boosted its stake in shares of Extended Stay America by 23.2% during the fourth quarter. BlackRock Inc. now owns 10,117,215 shares of the company’s stock valued at $156,815,000 after purchasing an additional 1,904,908 shares in the last quarter. Long Pond Capital LP acquired a new position in shares of Extended Stay America in the first quarter worth approximately $27,979,000. Northwood Liquid Management LP acquired a new position in shares of Extended Stay America in the fourth quarter worth approximately $20,873,000. Finally, Becker Capital Management Inc. bought a new stake in Extended Stay America in the first quarter worth approximately $11,380,000. 96.67% of the stock is owned by institutional investors and hedge funds.
About Extended Stay America
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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