DiamondRock Hospitality (NYSE:DRH) Given Average Recommendation of “Hold” by Analysts

DiamondRock Hospitality (NYSE:DRH) has been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.97.

Several equities research analysts have recently issued reports on the company. TheStreet cut DiamondRock Hospitality from a “c” rating to a “d+” rating in a report on Tuesday, September 8th. SunTrust Banks lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Friday, July 24th. Zacks Investment Research lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Thursday, October 8th. Robert W. Baird cut their price objective on DiamondRock Hospitality from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Finally, Bank of America raised their price objective on DiamondRock Hospitality from $4.00 to $5.50 and gave the company an “underperform” rating in a research report on Wednesday, September 30th.

Shares of DRH stock traded down $0.23 during mid-day trading on Monday, hitting $5.08. 43,934 shares of the company’s stock were exchanged, compared to its average volume of 3,294,486. DiamondRock Hospitality has a fifty-two week low of $1.96 and a fifty-two week high of $11.79. The stock has a 50-day simple moving average of $5.25 and a two-hundred day simple moving average of $5.34. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 27.05 and a beta of 1.68.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.02). DiamondRock Hospitality had a return on equity of 2.06% and a net margin of 5.72%. The business had revenue of $20.38 million for the quarter, compared to analyst estimates of $25.54 million. During the same quarter last year, the business earned $0.32 EPS. DiamondRock Hospitality’s revenue for the quarter was down 92.1% compared to the same quarter last year. As a group, analysts anticipate that DiamondRock Hospitality will post -0.47 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in DRH. Tower Research Capital LLC TRC grew its stake in DiamondRock Hospitality by 6,365.0% in the first quarter. Tower Research Capital LLC TRC now owns 6,465 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 6,365 shares in the last quarter. US Bancorp DE grew its stake in DiamondRock Hospitality by 1,543.1% in the second quarter. US Bancorp DE now owns 11,830 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 11,110 shares in the last quarter. Diversified Trust Co acquired a new position in DiamondRock Hospitality in the second quarter worth about $70,000. Redpoint Investment Management Pty Ltd grew its stake in DiamondRock Hospitality by 26.4% in the third quarter. Redpoint Investment Management Pty Ltd now owns 14,971 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 3,125 shares in the last quarter. Finally, Canandaigua National Corp acquired a new position in DiamondRock Hospitality in the second quarter worth about $81,000.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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Analyst Recommendations for DiamondRock Hospitality (NYSE:DRH)

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