DiamondRock Hospitality (NYSE:DRH) Shares Gap Up to $8.75

DiamondRock Hospitality (NYSE:DRHGet Rating) shares gapped up before the market opened on Monday . The stock had previously closed at $8.75, but opened at $9.02. DiamondRock Hospitality shares last traded at $9.08, with a volume of 1,108 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DRH. Wells Fargo & Company cut shares of DiamondRock Hospitality from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $11.00 to $10.00 in a research note on Monday, August 29th. Compass Point decreased their price target on shares of DiamondRock Hospitality to $11.00 in a research note on Tuesday, November 15th. Citigroup boosted their price target on shares of DiamondRock Hospitality to $10.00 in a research note on Monday, August 22nd. StockNews.com started coverage on shares of DiamondRock Hospitality in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus decreased their price target on shares of DiamondRock Hospitality from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus price target of $10.67.

DiamondRock Hospitality Stock Performance

The business’s fifty day moving average price is $8.52 and its two-hundred day moving average price is $8.95. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.29 and a current ratio of 3.29. The stock has a market capitalization of $1.93 billion, a P/E ratio of 25.47 and a beta of 1.64.

Institutional Trading of DiamondRock Hospitality

A number of large investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth about $461,000. Alpha DNA Investment Management LLC bought a new position in DiamondRock Hospitality during the 3rd quarter valued at about $503,000. Alpha Paradigm Partners LLC bought a new position in DiamondRock Hospitality during the 3rd quarter valued at about $900,000. Balyasny Asset Management LLC grew its holdings in DiamondRock Hospitality by 7.6% during the 3rd quarter. Balyasny Asset Management LLC now owns 3,432,111 shares of the real estate investment trust’s stock valued at $25,775,000 after purchasing an additional 243,261 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC grew its holdings in DiamondRock Hospitality by 115.7% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 197,134 shares of the real estate investment trust’s stock valued at $1,480,000 after purchasing an additional 105,737 shares during the last quarter.

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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