Playa Hotels & Resorts (NASDAQ:PLYA) Given Consensus Recommendation of “Buy” by Analysts

Posted by on Jun 10th, 2022

Shares of Playa Hotels & Resorts (NASDAQ:PLYA – Get Rating) have earned an average recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.55.

Several research firms have weighed in on PLYA. Oppenheimer began coverage on Playa Hotels & Resorts in a report on Thursday, April 21st. They issued an “outperform” rating and a $13.00 target price on the stock. Truist Financial upgraded Playa Hotels & Resorts from a “hold” rating to a “buy” rating and boosted their target price for the stock from $8.00 to $11.00 in a report on Monday, May 9th. TheStreet upgraded shares of Playa Hotels & Resorts from a “d+” rating to a “c-” rating in a report on Monday, February 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Playa Hotels & Resorts from $13.00 to $15.00 in a research note on Monday, May 9th. Finally, Zacks Investment Research raised shares of Playa Hotels & Resorts from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Thursday, May 12th.

In other news, Director Karl Mr. Peterson sold 30,000 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $8.54, for a total value of $256,200.00. Following the transaction, the director now directly owns 2,914,033 shares in the company, valued at approximately $24,885,841.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CIO Fernando Mulet sold 3,892 shares of Playa Hotels & Resorts stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $8.78, for a total transaction of $34,171.76. Following the completion of the transaction, the executive now directly owns 332,517 shares of the company’s stock, valued at $2,919,499.26. The disclosure for this sale can be found here. Insiders sold a total of 205,830 shares of company stock valued at $1,738,487 in the last three months. Insiders own 6.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd boosted its stake in Playa Hotels & Resorts by 166.5% during the 4th quarter. Qube Research & Technologies Ltd now owns 27,437 shares of the company’s stock valued at $219,000 after purchasing an additional 17,143 shares during the period. Invesco Ltd. raised its holdings in shares of Playa Hotels & Resorts by 2.0% during the third quarter. Invesco Ltd. now owns 8,807,358 shares of the company’s stock valued at $73,013,000 after buying an additional 173,155 shares during the last quarter. Axon Capital LP acquired a new position in shares of Playa Hotels & Resorts during the fourth quarter worth approximately $12,612,000. Brown Advisory Inc. bought a new position in Playa Hotels & Resorts in the 4th quarter worth approximately $212,000. Finally, MQS Management LLC acquired a new stake in Playa Hotels & Resorts in the 4th quarter valued at approximately $106,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Playa Hotels & Resorts stock opened at $8.91 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.70 and a quick ratio of 2.59. Playa Hotels & Resorts has a 1-year low of $6.13 and a 1-year high of $9.81. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 68.54 and a beta of 1.69. The business has a fifty day moving average price of $8.63 and a 200-day moving average price of $8.22.

Playa Hotels & Resorts (NASDAQ:PLYA – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. Playa Hotels & Resorts had a net margin of 3.37% and a return on equity of 0.63%. The firm had revenue of $219.60 million for the quarter, compared to analysts’ expectations of $196.76 million. During the same quarter in the previous year, the company posted ($0.31) EPS. The company’s revenue was up 182.6% compared to the same quarter last year. On average, equities research analysts anticipate that Playa Hotels & Resorts will post 0.32 earnings per share for the current fiscal year.

About Playa Hotels & Resorts (Get Rating)

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. As of December 31, 2021, it owned a portfolio of 22 resorts with 8,366 rooms located in Mexico, Jamaica, and the Dominican Republic. The company was founded in 2006 and is headquartered in Fairfax, Virginia.

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