Playa Hotels & Resorts (NASDAQ:PLYA) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a sell rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “Playa Hotels & Resorts N.V. is an owner, operator and developer of resorts primarily in Mexico and the Caribbean. The company owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara and Hyatt Ziva Rose Hall Jamaica, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. Playa Hotels & Resorts N.V. is based in Faifax, United States. “

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank set a $13.00 price target on Playa Hotels & Resorts and gave the company a buy rating in a research note on Wednesday, August 7th. BidaskClub upgraded Playa Hotels & Resorts from a sell rating to a hold rating in a research note on Wednesday, September 11th. Finally, SunTrust Banks set a $11.00 price target on Playa Hotels & Resorts and gave the company a buy rating in a research note on Monday, August 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $10.55.

PLYA opened at $7.98 on Friday. Playa Hotels & Resorts has a 1-year low of $5.98 and a 1-year high of $9.80. The stock’s fifty day simple moving average is $7.66 and its 200 day simple moving average is $7.85. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 1.14. The stock has a market cap of $1.05 billion, a PE ratio of 24.94 and a beta of 0.31.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Playa Hotels & Resorts had a return on equity of 4.47% and a net margin of 3.72%. The business had revenue of $164.02 million for the quarter, compared to analysts’ expectations of $160.71 million. During the same quarter in the prior year, the business earned $0.11 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts forecast that Playa Hotels & Resorts will post 0.12 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank acquired a new position in Playa Hotels & Resorts in the 2nd quarter valued at $33,000. First Manhattan Co. grew its holdings in Playa Hotels & Resorts by 538.9% in the 2nd quarter. First Manhattan Co. now owns 5,750 shares of the company’s stock valued at $44,000 after buying an additional 4,850 shares in the last quarter. Aperio Group LLC acquired a new position in Playa Hotels & Resorts in the 2nd quarter valued at $54,000. Ellington Management Group LLC acquired a new position in Playa Hotels & Resorts in the 2nd quarter valued at $90,000. Finally, JPMorgan Chase & Co. grew its holdings in Playa Hotels & Resorts by 353.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,307 shares of the company’s stock valued at $94,000 after buying an additional 9,595 shares in the last quarter. Institutional investors and hedge funds own 68.46% of the company’s stock.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V. owns, operates, and develops all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company operates under eight brand names. As of February 28, 2019, it owned a portfolio consisting of 21 resorts comprising 7,908 rooms located in Mexico, Jamaica, and the Dominican Republic.

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