La Quinta Holdings Inc. (LQ) Sets New 1-Year High at $17.94

La Quinta Holdings Inc. (NYSE:LQ)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $17.94 and last traded at $17.98, with a volume of 2,785,978 shares trading hands. The stock had previously closed at $17.25.

LQ has been the subject of several analyst reports. Morgan Stanley raised La Quinta Holdings from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $14.50 to $16.00 in a report on Thursday, June 15th. They noted that the move was a valuation call. Zacks Investment Research cut La Quinta Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 21st. BidaskClub raised La Quinta Holdings from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Wells Fargo & Company raised La Quinta Holdings from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday. Finally, TheStreet raised La Quinta Holdings from a “c” rating to a “b” rating in a report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $15.58.

The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 50.23 and a beta of 1.88. The stock’s 50-day moving average is $16.41 and its 200 day moving average is $14.83.

La Quinta Holdings (NYSE:LQ) last released its quarterly earnings results on Monday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. La Quinta Holdings had a return on equity of 7.28% and a net margin of 4.13%. The firm had revenue of $263.40 million for the quarter, compared to analyst estimates of $260.44 million. During the same quarter last year, the company posted $0.21 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. Equities analysts expect that La Quinta Holdings Inc. will post $0.40 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of La Quinta Holdings by 3.1% during the second quarter. JPMorgan Chase & Co. now owns 7,917,905 shares of the company’s stock worth $116,948,000 after buying an additional 241,482 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of La Quinta Holdings by 2.0% during the second quarter. Vanguard Group Inc. now owns 6,658,222 shares of the company’s stock worth $98,342,000 after buying an additional 131,315 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of La Quinta Holdings by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,559,141 shares of the company’s stock worth $52,569,000 after buying an additional 83,790 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of La Quinta Holdings by 68.6% during the second quarter. First Eagle Investment Management LLC now owns 3,092,505 shares of the company’s stock worth $45,676,000 after buying an additional 1,258,565 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of La Quinta Holdings by 12.8% during the first quarter. Citadel Advisors LLC now owns 3,087,851 shares of the company’s stock worth $41,748,000 after buying an additional 349,367 shares during the last quarter. 97.02% of the stock is currently owned by hedge funds and other institutional investors.

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La Quinta Holdings Company Profile

La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.

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