Deutsche Bank Aktiengesellschaft Increases Extended Stay America (NYSE:STAY) Price Target to $19.00


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Extended Stay America (NYSE:STAY) had its target price raised by Deutsche Bank Aktiengesellschaft from $17.00 to $19.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 25.00% from the company’s previous close. The analysts noted that the move was a valuation call.

STAY has been the subject of a number of other reports. Smith Barney Citigroup increased their price target on Extended Stay America from $11.50 to $15.50 in a report on Tuesday, December 15th. Barclays upped their target price on shares of Extended Stay America from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, November 24th. Bank of America upgraded shares of Extended Stay America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.50 to $15.00 in a research note on Tuesday, September 29th. Morgan Stanley upped their price objective on shares of Extended Stay America from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 27th. Finally, JPMorgan Chase & Co. upgraded shares of Extended Stay America from a “neutral” rating to an “overweight” rating and increased their price target for the company from $14.00 to $15.00 in a report on Wednesday, September 30th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $14.45.

Shares of NYSE STAY opened at $15.20 on Tuesday. The stock has a 50 day moving average price of $14.15 and a 200 day moving average price of $12.60. Extended Stay America has a 52-week low of $5.35 and a 52-week high of $15.29.

Extended Stay America (NYSE:STAY) last released its earnings results on Monday, November 9th. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.09. The firm had revenue of $285.89 million for the quarter, compared to analyst estimates of $272.37 million. During the same period last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year.

In other news, Director Richard F. Wallman sold 20,000 shares of the company’s stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $12.28, for a total value of $245,600.00. 0.72% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in Extended Stay America during the fourth quarter worth $72,000. Strs Ohio bought a new position in shares of Extended Stay America in the third quarter valued at approximately $1,149,000. Perpetual Ltd lifted its holdings in shares of Extended Stay America by 9.3% in the third quarter. Perpetual Ltd now owns 584,909 shares of the company’s stock valued at $6,990,000 after purchasing an additional 49,794 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Extended Stay America by 15.9% during the third quarter. Great West Life Assurance Co. Can now owns 15,196 shares of the company’s stock valued at $182,000 after buying an additional 2,090 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Extended Stay America by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 290,630 shares of the company’s stock valued at $3,473,000 after buying an additional 2,541 shares during the period. 96.67% of the stock is currently owned by hedge funds and other institutional investors.

Extended Stay America Company Profile

Extended Stay America, Inc, together with its subsidiaries, owns, operates, develops, and manages hotels in the United States. As of November 20, 2020, the company had a network of 646 hotels. It serves customers in the mid-priced extended stay segment. The company also licenses Extended Stay America brand to third party franchisees.

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Analyst Recommendations for Extended Stay America (NYSE:STAY)

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