Evercore ISI Lowers DiamondRock Hospitality (NYSE:DRH) Price Target to $9.00

DiamondRock Hospitality (NYSE:DRH) had its price objective reduced by equities research analysts at Evercore ISI from $10.00 to $9.00 in a report released on Monday,Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target indicates a potential upside of 24.91% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company lowered their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley dropped their target price on DiamondRock Hospitality from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus reduced their price target on shares of DiamondRock Hospitality from $9.75 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.92.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $7.21 on Monday. DiamondRock Hospitality has a one year low of $6.19 and a one year high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 2.06 and a beta of 1.38. The company’s fifty day moving average price is $7.59 and its 200-day moving average price is $8.53.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of DiamondRock Hospitality by 156.3% in the first quarter. Versant Capital Management Inc now owns 3,699 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,256 shares during the period. GF Fund Management CO. LTD. purchased a new position in DiamondRock Hospitality during the 4th quarter valued at about $34,000. State of Wyoming bought a new position in DiamondRock Hospitality during the 4th quarter valued at approximately $54,000. FIL Ltd bought a new stake in shares of DiamondRock Hospitality in the 4th quarter worth approximately $60,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of DiamondRock Hospitality by 278.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 7,189 shares in the last quarter.

DiamondRock Hospitality Company Profile

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.