Zacks Investment Research Downgrades Extended Stay America, Inc. (STAY) to Sell

Extended Stay America, Inc. (NYSE:STAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Extended Stay America, Inc. owns and operates hotels under the core brand, Extended Stay America(R). It is the owner/operator of company-branded hotels in North America. The Company offers guest rooms, dining services, on-site laundry, local phone calls, personalized voicemail, pools, fitness centers, and pet friendly accommodations. Extended Stay America, Inc. is headquartered in Charlotte, North Carolina. “

STAY has been the topic of several other reports. BidaskClub lowered shares of Extended Stay America from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Robert W. Baird reissued a “buy” rating and set a $21.00 target price on shares of Extended Stay America in a research note on Thursday, October 12th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $21.00 target price (up from $20.00) on shares of Extended Stay America in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.75.

Shares of Extended Stay America (NYSE STAY) opened at 20.58 on Tuesday. Extended Stay America has a 12-month low of $13.26 and a 12-month high of $20.92. The firm’s 50-day moving average price is $19.99 and its 200-day moving average price is $18.85. The company has a market capitalization of $3.96 billion, a PE ratio of 26.42 and a beta of 1.06.

Extended Stay America (NYSE:STAY) last posted its earnings results on Tuesday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Extended Stay America had a return on equity of 14.53% and a net margin of 5.24%. The firm had revenue of $338.36 million for the quarter, compared to analysts’ expectations of $342.70 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. On average, analysts expect that Extended Stay America will post $1.02 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado lifted its stake in Extended Stay America by 122.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock valued at $101,000 after buying an additional 2,867 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Extended Stay America by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock valued at $120,000 after buying an additional 367 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Extended Stay America in the 1st quarter valued at about $105,000. Asset Management One Co. Ltd. lifted its stake in Extended Stay America by 134.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 7,500 shares of the company’s stock valued at $120,000 after buying an additional 4,300 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Extended Stay America in the 2nd quarter valued at about $148,000. 99.39% of the stock is currently owned by institutional investors and hedge funds.

Extended Stay America Company Profile

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

Analyst Recommendations for Extended Stay America (NYSE:STAY)

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