Zacks Investment Research upgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a sell rating to a hold rating in a report issued on Thursday, 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. TheStreet upgraded shares of Playa Hotels & Resorts from a d+ rating to a c- rating in a research note on Wednesday, May 15th. Deutsche Bank set a $13.00 price objective on shares of Playa Hotels & Resorts and gave the stock a buy rating in a report on Wednesday, August 7th. SunTrust Banks set a $11.00 price objective on shares of Playa Hotels & Resorts and gave the stock a buy rating in a report on Monday, August 12th. Finally, BidaskClub downgraded shares of Playa Hotels & Resorts from a hold rating to a sell rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $10.55.

Shares of PLYA opened at $7.66 on Thursday. The company’s fifty day moving average is $7.45 and its 200-day moving average is $7.83. Playa Hotels & Resorts has a 12 month low of $5.98 and a 12 month high of $10.61. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 25.77 and a beta of 0.40. The company has a quick ratio of 1.23, a current ratio of 1.33 and a debt-to-equity ratio of 1.14.

Playa Hotels & Resorts (NASDAQ:PLYA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. Playa Hotels & Resorts had a net margin of 3.72% and a return on equity of 4.47%. The company had revenue of $164.02 million for the quarter, compared to analyst estimates of $160.71 million. During the same quarter in the prior year, the business posted $0.11 EPS. Playa Hotels & Resorts’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, research analysts predict 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 company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $8.12, for a total transaction of $39,877.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.67% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank bought a new stake in shares of Playa Hotels & Resorts during the 2nd quarter worth $33,000. First Manhattan Co. boosted its holdings 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 worth $44,000 after buying an additional 4,850 shares during the period. Aperio Group LLC bought a new stake in shares of Playa Hotels & Resorts during the 2nd quarter worth $54,000. Ellington Management Group LLC bought a new stake in shares of Playa Hotels & Resorts during the 2nd quarter worth $90,000. Finally, JPMorgan Chase & Co. boosted its holdings in Playa Hotels & Resorts by 353.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,307 shares of the company’s stock valued at $94,000 after purchasing an additional 9,595 shares during the period. 70.99% of the stock is owned by institutional investors and hedge funds.

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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