Extended Stay America, Inc. (NYSE:STAY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina. “

STAY has been the subject of a number of other reports. Robert W. Baird reaffirmed a “buy” rating and issued a $21.00 target price on shares of Extended Stay America in a research note on Thursday, October 12th. BidaskClub downgraded Extended Stay America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One investment 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 company has an average rating of “Buy” and an average target price of $21.20.

Extended Stay America (NYSE:STAY) last issued its earnings results on Tuesday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Extended Stay America had a return on equity of 14.53% and a net margin of 5.24%. The company had revenue of $338.36 million during the quarter, compared to analyst estimates of $342.70 million. During the same period last year, the business earned $0.31 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in STAY. BlackRock Inc. grew its holdings in shares of Extended Stay America by 728.7% during the 1st quarter. BlackRock Inc. now owns 6,648,923 shares of the company’s stock worth $105,986,000 after purchasing an additional 5,846,567 shares during the period. Hamlin Capital Management LLC purchased a new position in Extended Stay America during the 2nd quarter valued at about $102,091,000. Vanguard Group Inc. boosted its holdings in Extended Stay America by 49.9% during the 2nd quarter. Vanguard Group Inc. now owns 15,145,372 shares of the company’s stock valued at $293,215,000 after acquiring an additional 5,044,514 shares during the period. River Road Asset Management LLC purchased a new position in Extended Stay America during the 2nd quarter valued at about $73,977,000. Finally, Principal Financial Group Inc. boosted its holdings in Extended Stay America by 100.6% during the 3rd quarter. Principal Financial Group Inc. now owns 6,710,452 shares of the company’s stock valued at $134,209,000 after acquiring an additional 3,365,110 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

About Extended Stay America

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

Analyst Recommendations for Extended Stay America (NYSE:STAY)

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