Marriott International (NASDAQ:MAR) Price Target Raised to $323.00

Marriott International (NASDAQ:MARFree Report) had its price objective hoisted by JPMorgan Chase & Co. from $294.00 to $323.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on MAR. Truist Financial boosted their price objective on Marriott International from $278.00 to $283.00 and gave the stock a “hold” rating in a research report on Thursday, December 4th. Wells Fargo & Company initiated coverage on Marriott International in a research report on Tuesday, November 18th. They issued an “overweight” rating and a $329.00 price target on the stock. Barclays boosted their target price on Marriott International from $276.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, January 16th. Sanford C. Bernstein boosted their price objective on shares of Marriott International from $329.00 to $369.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Morgan Stanley increased their price objective on shares of Marriott International from $296.00 to $328.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.19.

Check Out Our Latest Research Report on Marriott International

Marriott International Trading Up 0.6%

NASDAQ MAR opened at $326.45 on Tuesday. The company has a market capitalization of $87.60 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 2.54 and a beta of 1.13. The firm’s fifty day simple moving average is $312.61 and its 200-day simple moving average is $285.12. Marriott International has a 1-year low of $205.40 and a 1-year high of $331.09.

Marriott International (NASDAQ:MARGet Free Report) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $6.46 billion. Marriott International had a net margin of 10.07% and a negative return on equity of 89.29%. As a group, analysts predict that Marriott International will post 10.1 EPS for the current year.

Insider Activity

In related news, CAO Felitia Lee sold 1,617 shares of Marriott International stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $305.98, for a total value of $494,769.66. Following the transaction, the chief accounting officer directly owned 4,893 shares of the company’s stock, valued at $1,497,160.14. This trade represents a 24.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Deborah Marriott Harrison sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $291.63, for a total transaction of $20,414,100.00. Following the completion of the sale, the insider owned 175,210 shares in the company, valued at approximately $51,096,492.30. The trade was a 28.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 74,490 shares of company stock valued at $21,756,389. 10.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. acquired a new stake in shares of Marriott International in the second quarter worth approximately $613,000. National Pension Service increased its position in Marriott International by 1.6% during the third quarter. National Pension Service now owns 603,431 shares of the company’s stock worth $157,158,000 after purchasing an additional 9,530 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Marriott International during the 3rd quarter valued at approximately $858,000. Headwater Capital Co Ltd purchased a new stake in Marriott International in the second quarter valued at $21,857,000. Finally, Index Fund Advisors Inc. acquired a new position in Marriott International in the second quarter valued at about $666,000. 70.70% of the stock is owned by institutional investors.

Key Marriott International News

Here are the key news stories impacting Marriott International this week:

About Marriott International

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Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.

The company traces its roots to the hospitality business founded by J.

Further Reading

Analyst Recommendations for Marriott International (NASDAQ:MAR)

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