Evercore ISI Forecasts Strong Price Appreciation for DiamondRock Hospitality (NYSE:DRH) Stock

DiamondRock Hospitality (NYSE:DRH) had its price target raised by stock analysts at Evercore ISI from $9.00 to $10.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 13.65% from the stock’s previous close.

DRH has been the topic of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of DiamondRock Hospitality to a “hold” rating in a research report on Friday, October 3rd. Finally, Morgan Stanley lowered their price target on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.04.

DiamondRock Hospitality Stock Up 2.6%

NYSE DRH opened at $8.80 on Thursday. The business has a fifty day moving average price of $8.15 and a two-hundred day moving average price of $7.99. The stock has a market capitalization of $1.79 billion, a PE ratio of 35.20, a PEG ratio of 4.24 and a beta of 1.38. DiamondRock Hospitality has a fifty-two week low of $6.18 and a fifty-two week high of $10.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $285.38 million during the quarter, compared to analysts’ expectations of $277.45 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.DiamondRock Hospitality’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. Equities analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DiamondRock Hospitality

Several large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. bought a new stake in shares of DiamondRock Hospitality in the first quarter worth $395,000. Cerity Partners LLC bought a new stake in shares of DiamondRock Hospitality in the 1st quarter valued at about $137,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of DiamondRock Hospitality in the first quarter valued at about $2,401,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of DiamondRock Hospitality by 15.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 159,557 shares of the real estate investment trust’s stock worth $1,232,000 after acquiring an additional 21,230 shares during the last quarter. Finally, Carrera Capital Advisors raised its position in shares of DiamondRock Hospitality by 15.4% during the first quarter. Carrera Capital Advisors now owns 233,671 shares of the real estate investment trust’s stock worth $1,823,000 after acquiring an additional 31,178 shares during the last quarter.

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.