Ashford (NYSEAMERICAN:AINC) Downgraded to Hold at Zacks Investment Research

Ashford (NYSEAMERICAN:AINC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “

Separately, B. Riley raised their price target on shares of Ashford from $10.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 3rd.

Shares of AINC traded down $0.12 during trading hours on Friday, hitting $13.94. 100 shares of the stock were exchanged, compared to its average volume of 31,762. Ashford has a fifty-two week low of $4.50 and a fifty-two week high of $28.27. The business’s 50-day simple moving average is $6.07. The company has a market capitalization of $42.14 million, a price-to-earnings ratio of -0.45 and a beta of 2.63.

Ashford (NYSEAMERICAN:AINC) last posted its quarterly earnings results on Thursday, July 29th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.67. The business had revenue of $88.34 million during the quarter, compared to analysts’ expectations of $64.30 million. Ashford had a negative net margin of 15.03% and a negative return on equity of 10.93%. Sell-side analysts expect that Ashford will post 1.63 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AINC. Renaissance Technologies LLC lifted its position in shares of Ashford by 66.0% during the first quarter. Renaissance Technologies LLC now owns 104,628 shares of the financial services provider’s stock valued at $928,000 after purchasing an additional 41,612 shares in the last quarter. Citadel Advisors LLC bought a new stake in Ashford in the first quarter worth about $96,000. State Street Corp bought a new stake in Ashford in the second quarter worth about $216,000. Finally, Geode Capital Management LLC raised its position in Ashford by 43.8% in the second quarter. Geode Capital Management LLC now owns 15,084 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 4,596 shares during the period. 11.73% of the stock is currently owned by institutional investors.

Ashford Company Profile

Ashford, Inc engages in the provision of asset management, advisory services and other products and services primarily to clients in the hospitality industry. The firm operates through following business segments: REIT Advisory, Remington, Premier, JSAV, OpenKey, and Corporate & Other. The REIT Advisory segment provides asset management and advisory services to other entities.

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