La Quinta Holdings Inc. (NYSE:LQ) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at ($16.67), but opened at $0.00. La Quinta Holdings shares last traded at $0.00, with a volume of 4120786 shares traded.

The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.04). The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $272.52 million. La Quinta Holdings had a return on equity of 6.31% and a net margin of 3.11%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share.

Several analysts recently commented on LQ shares. Zacks Investment Research cut La Quinta Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 21st. BidaskClub cut La Quinta Holdings from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. TheStreet upgraded La Quinta Holdings from a “c” rating to a “b” rating in a report on Tuesday, August 8th. Wells Fargo & Company upgraded La Quinta Holdings from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, October 6th. Finally, UBS Group AG (USA) upgraded La Quinta Holdings from a “hold” rating to a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $17.09.

Hedge funds have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC bought a new position in shares of La Quinta Holdings during the 2nd quarter worth approximately $153,000. Sterling Capital Management LLC bought a new position in shares of La Quinta Holdings during the 2nd quarter worth approximately $159,000. Institute for Wealth Management LLC. bought a new position in shares of La Quinta Holdings during the 2nd quarter worth approximately $175,000. Oppenheimer Asset Management Inc. bought a new position in shares of La Quinta Holdings during the 1st quarter worth approximately $176,000. Finally, Wolverine Trading LLC bought a new position in shares of La Quinta Holdings during the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 97.51% of the company’s stock.

The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 47.25, a PEG ratio of 6.35 and a beta of 1.87. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.45.

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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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