CorePoint Lodging (CPLG) Raised to Neutral at JPMorgan Chase & Co.

CorePoint Lodging (NYSE:CPLG) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $14.00 target price on the stock, down from their prior target price of $16.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.54% from the stock’s previous close.

Separately, Zacks Investment Research cut CorePoint Lodging from a “hold” rating to a “sell” rating in a research report on Monday, December 17th.

Shares of CPLG traded down $0.03 during mid-day trading on Wednesday, hitting $13.14. The company’s stock had a trading volume of 2,109 shares, compared to its average volume of 440,546. CorePoint Lodging has a one year low of $11.43 and a one year high of $28.30.

CorePoint Lodging (NYSE:CPLG) last posted its quarterly earnings data on Tuesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.18). The firm had revenue of $234.00 million during the quarter, compared to the consensus estimate of $234.85 million. As a group, sell-side analysts predict that CorePoint Lodging will post 2.26 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Investors Inc. PA acquired a new position in shares of CorePoint Lodging in the third quarter valued at $60,000. State of Alaska Department of Revenue raised its stake in shares of CorePoint Lodging by 47.0% in the fourth quarter. State of Alaska Department of Revenue now owns 13,505 shares of the company’s stock valued at $164,000 after purchasing an additional 4,316 shares in the last quarter. Rhumbline Advisers raised its stake in shares of CorePoint Lodging by 13.9% in the third quarter. Rhumbline Advisers now owns 46,188 shares of the company’s stock valued at $898,000 after purchasing an additional 5,636 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of CorePoint Lodging by 3.1% in the third quarter. Loomis Sayles & Co. L P now owns 298,193 shares of the company’s stock valued at $5,800,000 after purchasing an additional 9,077 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of CorePoint Lodging by 20.4% in the third quarter. AQR Capital Management LLC now owns 56,186 shares of the company’s stock valued at $1,093,000 after purchasing an additional 9,519 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, focuses on midscale and upper-midscale lodging business. As of May 31, 2018, it had a portfolio of 316 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is headquartered in Irving, Texas.

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