Playa Hotels & Resorts (NASDAQ:PLYA) Reaches New 1-Year High – Here’s Why

Playa Hotels & Resorts (NASDAQ:PLYA) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $9.87 and last traded at $9.86, with a volume of 1114660 shares. The stock had previously closed at $9.68.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PLYA shares. Truist Financial decreased their price objective on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Oppenheimer lowered their price objective on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Macquarie reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Playa Hotels & Resorts in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup restated a “neutral” rating and set a $8.00 price target (down from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Playa Hotels & Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Playa Hotels & Resorts Stock Up 1.8 %

The company has a market capitalization of $1.31 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.84 and a beta of 1.60. The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 1.93. The stock’s fifty day moving average is $8.14 and its 200 day moving average is $8.27.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $235.48 million during the quarter, compared to the consensus estimate of $228.95 million. Playa Hotels & Resorts had a net margin of 6.84% and a return on equity of 13.69%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. Research analysts predict that Playa Hotels & Resorts will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLYA. Long Pond Capital LP raised its holdings in Playa Hotels & Resorts by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 3,991,276 shares of the company’s stock worth $33,487,000 after purchasing an additional 518,316 shares in the last quarter. American Century Companies Inc. lifted its holdings in Playa Hotels & Resorts by 12.2% in the second quarter. American Century Companies Inc. now owns 2,425,296 shares of the company’s stock worth $20,348,000 after buying an additional 264,275 shares during the period. Cubist Systematic Strategies LLC boosted its position in Playa Hotels & Resorts by 486.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 264,625 shares of the company’s stock valued at $2,220,000 after acquiring an additional 219,501 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Playa Hotels & Resorts during the 2nd quarter worth approximately $1,168,000. Finally, Maverick Capital Ltd. raised its position in shares of Playa Hotels & Resorts by 335.0% in the 2nd quarter. Maverick Capital Ltd. now owns 166,536 shares of the company’s stock worth $1,397,000 after acquiring an additional 128,256 shares in the last quarter. Institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. It owns and manages Hyatt Zilara Cancún, Hyatt Ziva Cancún, Wyndham Alltra Cancún, Wyndham Alltra Playa del Carmen, Hilton Playa del Carmen All-Inclusive Resort, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Los Cabos located in Mexico; Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa, and Jewel Paradise Cove Beach Resort & Spa situated in Jamaica; the Hilton La Romana All-Inclusive Family Resort, the Hilton La Romana All-Inclusive Adult Resort, Hyatt Zilara Cap Cana, Hyatt Ziva Cap Cana, and Jewel Palm Beach located in the Dominican Republic; and manages resorts on behalf of third-party owners.