Hyatt Hotels (H) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Hyatt Hotels (NYSE:H) from a hold rating to a buy rating in a research report report published on Wednesday morning. They currently have $82.00 price target on the stock.
According to Zacks, “Shares of Hyatt have outperformed the industry in the past year, owing to better-than-expected earnings in the trailing 11 quarters. The company aims to continue gaining market share globally on a solid brand portfolio, and innovative and exceptional personalized service for the guests. Hyatt’s remodeled loyalty program and innovative offerings are expected to boost occupancy. Moreover, an increased focus on expanding presence in the fast-growing select-service category bodes well. Also, current year estimates have increased in the past 60 days, reflecting analysts’ optimism surrounding the company’s future earnings potential. Lingering global concerns in key operating regions and intense competition are likely to hurt revenues further. Hyatt’s weakness in the owned and leased segment is also a concern.”
Several other brokerages have also issued reports on H. Longbow Research started coverage on Hyatt Hotels in a research report on Friday, September 7th. They issued a buy rating and a $99.00 price objective for the company. Robert W. Baird set a $88.00 price objective on Hyatt Hotels and gave the company a buy rating in a research report on Friday, October 19th. Jefferies Financial Group reiterated a hold rating and issued a $84.00 price objective on shares of Hyatt Hotels in a research report on Thursday, October 4th. Wells Fargo & Co decreased their price objective on Hyatt Hotels from $92.00 to $79.00 and set an outperform rating for the company in a research report on Thursday, November 1st. Finally, SunTrust Banks decreased their price objective on Hyatt Hotels to $78.00 and set a hold rating for the company in a research report on Thursday, November 1st. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Hyatt Hotels presently has a consensus rating of Hold and a consensus price target of $82.09.
Hyatt Hotels (NYSE:H) last posted its earnings results on Tuesday, October 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.09 billion. Hyatt Hotels had a return on equity of 4.95% and a net margin of 17.80%. During the same period in the previous year, the company earned $0.26 EPS. Equities analysts forecast that Hyatt Hotels will post 1.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 28th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, November 27th. Hyatt Hotels’s dividend payout ratio (DPR) is presently 33.71%.
In related news, insider Featherman Trust sold 72,569 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $68.90, for a total value of $5,000,004.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark R. Vondrasek sold 7,540 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $71.77, for a total value of $541,145.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,828 shares of company stock worth $20,902,937. 18.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of H. Select Equity Group L.P. grew its holdings in Hyatt Hotels by 116.4% in the 3rd quarter. Select Equity Group L.P. now owns 1,509,904 shares of the company’s stock valued at $120,173,000 after buying an additional 812,192 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Hyatt Hotels by 110.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,106,350 shares of the company’s stock worth $88,055,000 after purchasing an additional 580,125 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of Hyatt Hotels during the 2nd quarter worth $19,708,000. Renaissance Technologies LLC grew its holdings in shares of Hyatt Hotels by 21.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,227,400 shares of the company’s stock worth $94,694,000 after purchasing an additional 215,700 shares in the last quarter. Finally, Baskin Financial Services Inc. acquired a new stake in shares of Hyatt Hotels during the 3rd quarter worth $13,891,000. 36.70% of the stock is currently owned by hedge funds and other institutional investors.
About Hyatt Hotels
Hyatt Hotels Corporation, a hospitality company, develops, owns, operates, manages, franchises, licenses, or provides services to hotels, resorts, residential, and other properties. It operates in four segments: Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, and EAME/SW Asia Management and Franchising.
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