La Quinta Holdings Inc. (NYSE:LQ) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $17.94 and last traded at $17.98, with a volume of 2,785,978 shares trading hands. The stock had previously closed at $17.25.

LQ has been the topic of a number of recent analyst reports. Morgan Stanley upgraded La Quinta Holdings from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.50 to $16.00 in a research report on Thursday, June 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded La Quinta Holdings from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Wednesday, July 5th. BidaskClub cut La Quinta Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. TheStreet upgraded La Quinta Holdings from a “c” rating to a “b” rating in a research report on Tuesday, August 8th. Finally, Wells Fargo & Company upgraded La Quinta Holdings from a “market perform” rating to an “outperform” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. La Quinta Holdings has an average rating of “Hold” and an average price target of $14.29.

The stock’s 50-day moving average price is $16.34 and its 200-day moving average price is $14.80. The firm has a market cap of $2.11 billion, a PE ratio of 50.82 and a beta of 1.88.

La Quinta Holdings (NYSE:LQ) last released its quarterly earnings results on Monday, August 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. La Quinta Holdings had a return on equity of 7.28% and a net margin of 4.13%. The firm had revenue of $263.40 million for the quarter, compared to analysts’ expectations of $260.44 million. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, equities analysts forecast that La Quinta Holdings Inc. will post $0.40 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in LQ. Bank of New York Mellon Corp raised its holdings in shares of La Quinta Holdings by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 405,802 shares of the company’s stock valued at $5,485,000 after buying an additional 23,456 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of La Quinta Holdings by 69.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 51,764 shares of the company’s stock valued at $700,000 after buying an additional 21,263 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of La Quinta Holdings by 17.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 121,998 shares of the company’s stock valued at $1,649,000 after buying an additional 18,347 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of La Quinta Holdings by 88.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 21,535 shares of the company’s stock valued at $291,000 after buying an additional 10,134 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of La Quinta Holdings during the 1st quarter valued at about $558,000. 97.02% of the stock is currently owned by institutional investors.

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About La Quinta Holdings

La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.

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