DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $11.00 at Truist Financial

DiamondRock Hospitality (NYSE:DRHGet Rating) had its target price raised by Truist Financial from $9.00 to $11.00 in a report issued on Wednesday morning, The Fly reports.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research raised DiamondRock Hospitality from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Tuesday. The Goldman Sachs Group upped their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a sell rating in a research note on Wednesday, April 6th. Deutsche Bank Aktiengesellschaft increased their price target on DiamondRock Hospitality from $11.00 to $12.00 in a research note on Wednesday, May 18th. StockNews.com began coverage on DiamondRock Hospitality in a research note on Thursday, March 31st. They issued a hold rating for the company. Finally, Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $10.50 to $11.00 and gave the company an overweight rating in a research note on Thursday, March 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality has a consensus rating of Hold and a consensus target price of $11.25.

DiamondRock Hospitality stock opened at $10.29 on Wednesday. The stock has a market cap of $2.17 billion, a PE ratio of -93.55 and a beta of 1.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.63 and a current ratio of 1.63. DiamondRock Hospitality has a one year low of $8.04 and a one year high of $11.15. The stock has a fifty day moving average of $10.03 and a 200 day moving average of $9.68.

DiamondRock Hospitality (NYSE:DRHGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $179.36 million. DiamondRock Hospitality had a negative return on equity of 0.90% and a negative net margin of 1.98%. The business’s quarterly revenue was up 170.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.12) EPS. As a group, sell-side analysts predict that DiamondRock Hospitality will post 0.75 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC raised its holdings in shares of DiamondRock Hospitality by 7.6% in the first quarter. Neuberger Berman Group LLC now owns 1,137,877 shares of the real estate investment trust’s stock worth $11,493,000 after buying an additional 79,917 shares during the period. Walleye Trading LLC purchased a new stake in shares of DiamondRock Hospitality in the first quarter worth approximately $492,000. Virtu Financial LLC purchased a new stake in shares of DiamondRock Hospitality in the first quarter worth approximately $239,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in DiamondRock Hospitality during the 1st quarter worth $371,000. Finally, Allstate Corp purchased a new position in DiamondRock Hospitality during the 1st quarter worth $548,000. Hedge funds and other institutional investors own 99.54% of the company’s stock.

DiamondRock Hospitality Company Profile (Get Rating)

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.

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