La Quinta (LQ) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research cut shares of La Quinta (NYSE:LQ) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “La Quinta Holdings Inc. is an owner, operator and franchisor of select-service hotels in the United States, primarily serving the midscale and upper-midscale segments. It provides franchise services to hotels in the U.S., Canada and Mexico under the La Quinta Inns & Suites (TM) and La Quinta Inn (TM) brands. La Quinta Holdings Inc. is headquartered in Irving, Texas. “
A number of other research analysts have also weighed in on the stock. TheStreet lowered shares of La Quinta from a b rating to a c+ rating in a research note on Thursday, November 2nd. Wells Fargo & Company upgraded shares of La Quinta from a market perform rating to an outperform rating and set a $22.00 price objective on the stock in a report on Friday, October 6th. Finally, UBS upgraded shares of La Quinta from a hold rating to a buy rating in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. La Quinta presently has an average rating of Hold and an average target price of $17.81.
La Quinta (NYSE:LQ) last issued its earnings results on Wednesday, November 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). La Quinta had a net margin of 3.11% and a return on equity of 6.23%. The business had revenue of $268.60 million during the quarter, compared to the consensus estimate of $272.52 million. During the same period last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. equities research analysts forecast that La Quinta will post 0.33 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of LQ. Bank of America Corp DE lifted its position in La Quinta by 1.9% during the first quarter. Bank of America Corp DE now owns 22,770 shares of the company’s stock worth $308,000 after purchasing an additional 433 shares during the period. New York State Common Retirement Fund raised its stake in La Quinta by 0.7% during the second quarter. New York State Common Retirement Fund now owns 157,357 shares of the company’s stock worth $2,324,000 after acquiring an additional 1,107 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in La Quinta by 2.1% during the second quarter. Public Employees Retirement System of Ohio now owns 57,972 shares of the company’s stock worth $856,000 after acquiring an additional 1,179 shares in the last quarter. Voya Investment Management LLC raised its stake in La Quinta by 11.4% during the second quarter. Voya Investment Management LLC now owns 38,884 shares of the company’s stock worth $574,000 after acquiring an additional 3,994 shares in the last quarter. Finally, American International Group Inc. raised its stake in La Quinta by 8.1% during the third quarter. American International Group Inc. now owns 54,716 shares of the company’s stock worth $958,000 after acquiring an additional 4,091 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.
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La Quinta Company Profile
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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