Truist Financial Lowers Playa Hotels & Resorts (NASDAQ:PLYA) Price Target to $10.00

Playa Hotels & Resorts (NASDAQ:PLYA) had its price target reduced by Truist Financial from $12.00 to $10.00 in a research report sent to investors on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Oppenheimer restated an outperform rating and issued a $12.00 target price on shares of Playa Hotels & Resorts in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Playa Hotels & Resorts from $16.00 to $14.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Finally, Macquarie reissued an outperform rating and set a $14.00 target price on shares of Playa Hotels & Resorts in a research report on Wednesday.

Playa Hotels & Resorts Trading Up 1.4 %

Shares of PLYA stock traded up $0.10 during mid-day trading on Thursday, reaching $7.47. The stock had a trading volume of 985,198 shares, compared to its average volume of 634,905. The stock’s 50-day moving average price is $8.30 and its two-hundred day moving average price is $8.75. The firm has a market capitalization of $994.86 million, a PE ratio of 16.24, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60. The company has a current ratio of 2.26, a quick ratio of 2.16 and a debt-to-equity ratio of 1.81. Playa Hotels & Resorts has a 52-week low of $6.88 and a 52-week high of $9.85.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Playa Hotels & Resorts had a net margin of 6.52% and a return on equity of 12.08%. The company had revenue of $235.48 million for the quarter, compared to the consensus estimate of $228.95 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts expect that Playa Hotels & Resorts will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PLYA. Goldman Sachs Group Inc. grew its holdings in shares of Playa Hotels & Resorts by 9.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,421,243 shares of the company’s stock worth $46,894,000 after purchasing an additional 461,888 shares during the period. Renaissance Group LLC raised its position in shares of Playa Hotels & Resorts by 7.8% in the 4th quarter. Renaissance Group LLC now owns 348,186 shares of the company’s stock valued at $3,012,000 after purchasing an additional 25,133 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of 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 valued at $8,720,000 after acquiring an additional 99,649 shares in the last quarter. Inceptionr LLC acquired a new stake in shares of Playa Hotels & Resorts during the 4th quarter valued at approximately $93,000. Finally, Halter Ferguson Financial Inc. bought a new position in Playa Hotels & Resorts during the 4th quarter worth $3,285,000. Institutional investors and hedge funds 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.