Ashford Inc (AINC) Cut to Neutral at B. Riley
Ashford Inc (NYSEMKT:AINC) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Tuesday. They presently have a $81.00 target price on the financial services provider’s stock, up from their previous target price of $67.00. B. Riley’s price objective would indicate a potential downside of 0.99% from the company’s previous close.
A number of other research analysts have also recently issued reports on the stock. FBR & Co increased their target price on shares of Ashford from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Ashford from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Monday, September 25th. Finally, TheStreet raised shares of Ashford from a “d” rating to a “c-” rating in a research note on Wednesday, October 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $68.75.
Shares of Ashford (NYSEMKT AINC) opened at $81.81 on Tuesday. Ashford has a 12-month low of $38.10 and a 12-month high of $81.81.
An institutional investor recently bought a new position in Ashford stock. Clear Harbor Asset Management LLC acquired a new stake in shares of Ashford Inc (NYSEMKT:AINC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,212 shares of the financial services provider’s stock, valued at approximately $452,000. Clear Harbor Asset Management LLC owned approximately 0.46% of Ashford as of its most recent filing with the Securities & Exchange Commission.
Ashford Company Profile
Ashford Inc provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc (Ashford Prime) and its subsidiaries.
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