Summit Hotel Properties (INN) Raised to Sell at ValuEngine

Summit Hotel Properties (NYSE:INN) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

Other equities analysts have also recently issued reports about the stock. Bank of America cut shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Zacks Investment Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Thursday, October 4th. Deutsche Bank dropped their target price on Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Raymond James dropped their target price on Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Finally, TheStreet downgraded Summit Hotel Properties from a “b-” rating to a “c+” rating in a report on Monday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Summit Hotel Properties presently has a consensus rating of “Buy” and an average target price of $15.17.

INN stock opened at $10.96 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 1.52. Summit Hotel Properties has a one year low of $10.68 and a one year high of $16.15. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 5.99 and a beta of 1.36.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). Summit Hotel Properties had a return on equity of 7.79% and a net margin of 16.76%. The company had revenue of $142.34 million for the quarter, compared to the consensus estimate of $141.18 million. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Summit Hotel Properties will post 1.26 earnings per share for the current fiscal year.

In other news, Chairman Daniel P. Hansen bought 10,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was bought at an average price of $11.35 per share, with a total value of $113,500.00. Following the completion of the acquisition, the chairman now owns 1,001,155 shares of the company’s stock, valued at $11,363,109.25. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.12% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Summit Hotel Properties during the second quarter worth $400,000. Usca Ria LLC acquired a new stake in shares of Summit Hotel Properties during the third quarter worth $142,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Summit Hotel Properties during the third quarter worth $142,000. Accident Compensation Corp acquired a new stake in shares of Summit Hotel Properties during the third quarter worth $144,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Summit Hotel Properties during the third quarter worth $162,000.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of October 30, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,659 guestrooms located in 26 states.

See Also: Leveraged Buyout (LBO)

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Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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