Hyatt Hotels (H) Upgraded by Citigroup to Buy
A number of other equities analysts have also issued reports on H. MKM Partners upgraded shares of Hyatt Hotels from a neutral rating to a buy rating and set a $79.00 target price for the company in a research report on Thursday, December 7th. SunTrust Banks reiterated a hold rating and issued a $61.00 target price on shares of Hyatt Hotels in a research report on Tuesday, October 17th. Stifel Nicolaus upped their price target on shares of Hyatt Hotels from $61.00 to $67.00 and gave the company a hold rating in a report on Monday, November 6th. Robert W. Baird set a $70.00 price target on shares of Hyatt Hotels and gave the company a buy rating in a report on Sunday, October 29th. Finally, B. Riley downgraded shares of Hyatt Hotels from a buy rating to a neutral rating and set a $70.00 price target for the company. in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Hyatt Hotels currently has a consensus rating of Hold and an average target price of $70.55.
Hyatt Hotels (NYSE:H) traded up $0.90 during trading on Thursday, hitting $71.25. 1,293,500 shares of the stock traded hands, compared to its average volume of 764,105. The company has a market capitalization of $8,411.82, a price-to-earnings ratio of 39.31, a P/E/G ratio of 10.06 and a beta of 1.25. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. Hyatt Hotels has a fifty-two week low of $50.21 and a fifty-two week high of $73.33.
Hyatt Hotels announced that its board has initiated a share repurchase program on Thursday, December 14th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Stephen G. Haggerty sold 7,117 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $61.60, for a total value of $438,407.20. Following the transaction, the insider now owns 57,326 shares in the company, valued at $3,531,281.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen G. Haggerty sold 46,869 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $61.77, for a total value of $2,895,098.13. Following the completion of the transaction, the insider now owns 32,125 shares in the company, valued at approximately $1,984,361.25. The disclosure for this sale can be found here. Insiders sold 1,000,001 shares of company stock valued at $68,120,268 over the last three months. 27.51% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Cibc World Markets Corp acquired a new stake in shares of Hyatt Hotels in the second quarter worth $37,099,000. BNP Paribas Arbitrage SA grew its stake in shares of Hyatt Hotels by 485.2% in the second quarter. BNP Paribas Arbitrage SA now owns 624,966 shares of the company’s stock worth $35,129,000 after acquiring an additional 518,164 shares during the last quarter. Gruss Capital Management LP grew its stake in shares of Hyatt Hotels by 316.1% in the third quarter. Gruss Capital Management LP now owns 645,000 shares of the company’s stock worth $39,855,000 after acquiring an additional 490,000 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Hyatt Hotels in the second quarter worth $478,000. Finally, Long Pond Capital LP grew its stake in shares of Hyatt Hotels by 14.1% in the third quarter. Long Pond Capital LP now owns 3,035,548 shares of the company’s stock worth $187,567,000 after acquiring an additional 374,704 shares during the last quarter. Institutional investors own 38.83% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Hyatt Hotels (H) Upgraded by Citigroup to Buy” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.watchlistnews.com/hyatt-hotels-h-upgraded-by-citigroup-to-buy/1766534.html.
Hyatt Hotels Company Profile
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).
Receive News & Ratings for Hyatt Hotels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hyatt Hotels and related companies with MarketBeat.com's FREE daily email newsletter.