Zacks Investment Research Downgrades Hyatt Hotels (NYSE:H) to Hold

Zacks Investment Research lowered shares of Hyatt Hotels (NYSE:H) from a strong-buy rating to a hold rating in a research report report published on Thursday, January 18th.

According to Zacks, “Hyatt’s shares have outperformed the industry over the past six months. The company also saw upward revisions for 2018 earnings over the last 60 days. Hyatt’s strong developmental pipeline, consistent expansion plans and large international exposure continue driving growth. Extension of the Hyatt brand beyond traditional hotel stays into the swiftly growing wellness space with the Miraval acquisition also bodes well. However, owing to international expansion, Hyatt is exposed to headwinds in the regions where it operates. Various macroeconomic issues in the Middle East and economic slowdown in China may keep revenues under pressure. Also, volatility in exchange rates might continue to hurt results. In fact, the company has been witnessing a decline in international inbound travel, given a stronger dollar.”

H has been the topic of a number of other research reports. SunTrust Banks reaffirmed a hold rating and set a $61.00 price objective on shares of Hyatt Hotels in a report on Tuesday, October 17th. Berenberg Bank raised Hyatt Hotels from a hold rating to a buy rating and upped their price objective for the stock from $69.20 to $78.00 in a report on Friday, November 10th. Citigroup upgraded Hyatt Hotels from a neutral rating to a buy rating and set a $82.00 target price on the stock in a research report on Thursday, December 14th. Morgan Stanley boosted their target price on Hyatt Hotels from $63.00 to $67.00 and gave the stock an equal weight rating in a research report on Friday, November 3rd. Finally, Stifel Nicolaus boosted their target price on Hyatt Hotels from $61.00 to $67.00 and gave the stock a hold rating in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $74.69.

Shares of Hyatt Hotels (NYSE:H) traded up $0.37 during mid-day trading on Thursday, reaching $76.98. The company had a trading volume of 952,481 shares, compared to its average volume of 747,254. Hyatt Hotels has a 52-week low of $50.21 and a 52-week high of $82.50. The firm has a market capitalization of $9,152.54, a price-to-earnings ratio of 42.77, a PEG ratio of 11.90 and a beta of 1.31. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 1.04.

Hyatt Hotels announced that its board has approved a stock repurchase plan on Thursday, December 14th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other news, insider Elsinore Trust sold 111,003 shares of Hyatt Hotels stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $69.56, for a total transaction of $7,721,368.68. Following the transaction, the insider now directly owns 40,878 shares in the company, valued at approximately $2,843,473.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Samuel Hoplamazian sold 49,173 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $71.54, for a total value of $3,517,836.42. Following the sale, the insider now directly owns 300,655 shares of the company’s stock, valued at $21,508,858.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 774,539 shares of company stock worth $54,245,219. 27.51% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bamco Inc. NY boosted its stake in shares of Hyatt Hotels by 0.4% during the 3rd quarter. Bamco Inc. NY now owns 4,456,997 shares of the company’s stock worth $275,398,000 after acquiring an additional 17,660 shares in the last quarter. Long Pond Capital LP boosted its position in shares of Hyatt Hotels by 14.1% in the third quarter. Long Pond Capital LP now owns 3,035,548 shares of the company’s stock worth $187,567,000 after buying an additional 374,704 shares during the period. BlackRock Inc. boosted its position in shares of Hyatt Hotels by 4.6% in the fourth quarter. BlackRock Inc. now owns 1,835,831 shares of the company’s stock worth $135,007,000 after buying an additional 80,084 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Hyatt Hotels by 63.0% in the third quarter. BNP Paribas Arbitrage SA now owns 1,018,390 shares of the company’s stock worth $62,927,000 after buying an additional 393,424 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in shares of Hyatt Hotels in the second quarter worth $37,099,000. 38.38% of the stock is owned by institutional investors and hedge funds.

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Hyatt Hotels Company Profile

Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).

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