Ashford (NYSEAMERICAN:AINC) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Ashford (NYSEAMERICAN:AINC) from a hold rating to a sell rating in a report released on Tuesday, January 16th.

According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “

Several other analysts also recently commented on AINC. TheStreet raised shares of Ashford from a d rating to a c- rating in a report on Wednesday, October 11th. B. Riley cut shares of Ashford from a buy rating to a neutral rating and boosted their target price for the company from $67.00 to $81.00 in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $80.00.

Ashford (AINC) traded down $0.04 during trading hours on Tuesday, reaching $91.96. 906 shares of the company’s stock traded hands, compared to its average volume of 2,661. The stock has a market cap of $183.11, a P/E ratio of -18.17 and a beta of -0.19. Ashford has a 12 month low of $46.65 and a 12 month high of $111.00.

Ashford declared that its board has authorized a share buyback program on Monday, December 11th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

A hedge fund recently bought a new stake in Ashford stock. Bank of New York Mellon Corp bought a new position in shares of Ashford Inc (NYSEAMERICAN:AINC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,141 shares of the financial services provider’s stock, valued at approximately $292,000. Bank of New York Mellon Corp owned approximately 0.15% of Ashford as of its most recent SEC filing.

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About Ashford

Ashford Inc provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc (Ashford Prime) and its subsidiaries.

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