Ashford (AINC) Lifted to “Hold” at Zacks Investment Research

Ashford (NYSEAMERICAN:AINC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “

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A number of other equities analysts also recently commented on AINC. B. Riley set a $92.00 price objective on shares of Ashford and gave the stock a “hold” rating in a research note on Monday, March 5th. TheStreet downgraded shares of Ashford from a “c-” rating to a “d” rating in a research note on Tuesday, March 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $83.50.

Shares of Ashford stock traded up $0.48 on Friday, hitting $96.48. 1,621 shares of the company traded hands, compared to its average volume of 3,295. Ashford has a 52 week low of $47.03 and a 52 week high of $111.00.

Ashford (NYSEAMERICAN:AINC) last posted its quarterly earnings results on Thursday, March 1st. The financial services provider reported ($3.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($3.68). Ashford had a negative net margin of 11.73% and a negative return on equity of 23.28%. The company had revenue of $29.67 million for the quarter, compared to the consensus estimate of $27.54 million.

Ashford declared that its Board of Directors has approved a share repurchase program on Monday, December 11th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Large investors have recently modified their holdings of the stock. Snow Park Capital Partners LP acquired a new position in shares of Ashford during the fourth quarter worth $1,226,000. Bank of New York Mellon Corp acquired a new position in shares of Ashford during the fourth quarter worth $292,000. California Public Employees Retirement System acquired a new position in shares of Ashford during the fourth quarter worth $281,000. Globeflex Capital L P acquired a new position in shares of Ashford during the fourth quarter worth $262,000. Finally, Millennium Management LLC acquired a new position in shares of Ashford during the fourth quarter worth $212,000.

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Ashford Company Profile

Ashford, Inc is an asset management firm. The firm provides investment management and related services to the real estate and hospitality sectors. Ashford, Inc was formed on April 2, 2014 and is based in Dallas, Texas.

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