Citigroup Reaffirms Neutral Rating for Playa Hotels & Resorts (NASDAQ:PLYA)

Playa Hotels & Resorts (NASDAQ:PLYA)‘s stock had its “neutral” rating reissued by stock analysts at Citigroup in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $8.00 price target on the stock, down from their prior price target of $12.00. Citigroup’s price target would indicate a potential upside of 8.70% from the company’s current price.

Several other analysts have also weighed in on the company. Oppenheimer lowered their price objective on Playa Hotels & Resorts from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Truist Financial lowered their target price on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Macquarie reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Playa Hotels & Resorts in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Playa Hotels & Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Playa Hotels & Resorts Stock Up 1.7 %

Shares of NASDAQ PLYA traded up $0.12 during trading on Tuesday, reaching $7.36. 925,892 shares of the stock were exchanged, compared to its average volume of 638,897. Playa Hotels & Resorts has a twelve month low of $6.88 and a twelve month high of $9.85. The company has a market capitalization of $980.21 million, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 0.60 and a beta of 1.60. The company has a quick ratio of 2.16, a current ratio of 2.23 and a debt-to-equity ratio of 1.93. The business’s 50-day moving average price is $8.27 and its 200 day moving average price is $8.75.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Playa Hotels & Resorts had a return on equity of 11.79% and a net margin of 5.85%. The company had revenue of $235.48 million for the quarter, compared to the consensus estimate of $228.95 million. During the same period in the previous year, the business earned $0.13 EPS. Playa Hotels & Resorts’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts forecast that Playa Hotels & Resorts will post 0.56 EPS for the current fiscal year.

Insider Activity

In other Playa Hotels & Resorts news, Director Karl Mr. Peterson sold 60,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $8.31, for a total transaction of $498,600.00. Following the sale, the director now owns 2,469,033 shares in the company, valued at approximately $20,517,664.23. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Playa Hotels & Resorts

Hedge funds have recently bought and sold shares of the business. Raymond James & Associates raised its stake in Playa Hotels & Resorts by 2.3% during the 4th quarter. Raymond James & Associates now owns 65,821 shares of the company’s stock valued at $569,000 after purchasing an additional 1,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Playa Hotels & Resorts by 16.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,233 shares of the company’s stock valued at $158,000 after buying an additional 2,634 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Playa Hotels & Resorts by 17.8% in the 4th quarter. Russell Investments Group Ltd. now owns 60,415 shares of the company’s stock valued at $523,000 after buying an additional 9,139 shares during the period. BNP Paribas Financial Markets grew its holdings in Playa Hotels & Resorts by 11.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,008,037 shares of the company’s stock worth $8,720,000 after acquiring an additional 99,649 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Playa Hotels & Resorts by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,482,718 shares of the company’s stock valued at $64,727,000 after purchasing an additional 82,630 shares during the period. 74.58% of the stock is owned by institutional investors and hedge funds.

About Playa Hotels & Resorts

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.