Zacks Investment Research upgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a sell rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.

According to Zacks, “Playa Hotels & Resorts N.V. is an owner, operator and developer of resorts primarily in Mexico and the Caribbean. The company owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara and Hyatt Ziva Rose Hall Jamaica, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. Playa Hotels & Resorts N.V. is based in Faifax, United States. “

Several other brokerages have also commented on PLYA. Deutsche Bank set a $13.00 target price on shares of Playa Hotels & Resorts and gave the stock a buy rating in a research report on Wednesday, August 7th. SunTrust Banks set a $11.00 price target on Playa Hotels & Resorts and gave the stock a buy rating in a research note on Monday, August 12th. BidaskClub downgraded Playa Hotels & Resorts from a hold rating to a sell rating in a research note on Tuesday, July 16th. Finally, TheStreet raised Playa Hotels & Resorts from a d+ rating to a c- rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $10.55.

Shares of NASDAQ PLYA opened at $7.69 on Friday. The firm has a market capitalization of $976.12 million, a P/E ratio of 24.03 and a beta of 0.40. Playa Hotels & Resorts has a one year low of $5.98 and a one year high of $10.83. The company’s fifty day moving average is $7.47 and its two-hundred day moving average is $7.83. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.23 and a current ratio of 1.33.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its earnings results on Tuesday, August 6th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. The company had revenue of $164.02 million for the quarter, compared to analyst estimates of $160.71 million. Playa Hotels & Resorts had a net margin of 3.72% and a return on equity of 4.47%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. On average, sell-side analysts forecast that Playa Hotels & Resorts will post 0.12 earnings per share for the current fiscal year.

In related news, insider Brandon B. Buhler sold 4,911 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $8.12, for a total value of $39,877.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PLYA. Toronto Dominion Bank acquired a new position in shares of Playa Hotels & Resorts during the 2nd quarter valued at about $33,000. First Manhattan Co. increased its stake in shares of Playa Hotels & Resorts by 538.9% during the 2nd quarter. First Manhattan Co. now owns 5,750 shares of the company’s stock valued at $44,000 after acquiring an additional 4,850 shares during the last quarter. Aperio Group LLC acquired a new position in shares of Playa Hotels & Resorts during the 2nd quarter valued at about $54,000. Ellington Management Group LLC acquired a new position in shares of Playa Hotels & Resorts during the 2nd quarter valued at about $90,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Playa Hotels & Resorts during the 4th quarter valued at about $93,000. 70.99% of the stock is owned by institutional investors.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V. owns, operates, and develops all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company operates under eight brand names. As of February 28, 2019, it owned a portfolio consisting of 21 resorts comprising 7,908 rooms located in Mexico, Jamaica, and the Dominican Republic.

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