Morgan Stanley upgraded shares of Choice Hotels International Inc. (NYSE:CHH) from an underweight rating to an equal weight rating in a research note published on Monday morning. The firm currently has $47.00 price objective on the stock.
A number of other research firms have also recently commented on CHH. Zacks Investment Research upgraded Choice Hotels International from a sell rating to a hold rating in a research report on Thursday, August 4th. Bank of America Corp. restated a buy rating on shares of Choice Hotels International in a research report on Monday, July 18th. Wolfe Research started coverage on Choice Hotels International in a research report on Wednesday, July 6th. They set a market perform rating on the stock. Deutsche Bank AG restated a hold rating on shares of Choice Hotels International in a research report on Sunday, June 26th. Finally, JPMorgan Chase & Co. cut Choice Hotels International from a neutral rating to an underweight rating and set a $43.00 target price on the stock. in a research report on Wednesday, June 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Choice Hotels International has a consensus rating of Hold and an average target price of $48.78.
Shares of Choice Hotels International (NYSE:CHH) opened at 44.79 on Monday. The firm’s 50-day moving average price is $47.80 and its 200-day moving average price is $48.64. The stock has a market capitalization of $2.50 billion, a P/E ratio of 19.55 and a beta of 1.10. Choice Hotels International has a 12 month low of $40.78 and a 12 month high of $54.66.
Choice Hotels International (NYSE:CHH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The business earned $241.80 million during the quarter, compared to analyst estimates of $244.21 million. Choice Hotels International had a negative return on equity of 33.53% and a net margin of 14.32%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. On average, equities research analysts forecast that Choice Hotels International will post $2.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.83%. The ex-dividend date is Thursday, September 29th. Choice Hotels International’s payout ratio is 36.28%.
In other Choice Hotels International news, CEO Stephen P. Joyce sold 32,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $45.09, for a total value of $1,442,880.00. Following the transaction, the chief executive officer now directly owns 180,548 shares of the company’s stock, valued at approximately $8,140,909.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Pacious sold 4,745 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $48.73, for a total transaction of $231,223.85. Following the completion of the transaction, the chief operating officer now directly owns 113,062 shares in the company, valued at $5,509,511.26. The disclosure for this sale can be found here. 22.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Choice Hotels International during the fourth quarter worth $14,606,000. TIAA CREF Investment Management LLC raised its position in Choice Hotels International by 7.4% in the first quarter. TIAA CREF Investment Management LLC now owns 168,892 shares of the company’s stock worth $9,129,000 after buying an additional 11,663 shares during the period. BlackRock Inc. raised its position in Choice Hotels International by 323.4% in the first quarter. BlackRock Inc. now owns 4,331 shares of the company’s stock worth $234,000 after buying an additional 3,308 shares during the period. Landscape Capital Management L.L.C. raised its position in Choice Hotels International by 86.1% in the first quarter. Landscape Capital Management L.L.C. now owns 26,351 shares of the company’s stock worth $1,424,000 after buying an additional 12,192 shares during the period. Finally, Alpine Partners VI LLC acquired a new position in Choice Hotels International during the first quarter worth $333,000. 49.90% of the stock is currently owned by institutional investors and hedge funds.
About Choice Hotels International
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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